Processing plants with outsourced components integral to the process, not so much in my experience.
This arrangement is possibly more in line with how the Australian auto industry used to operate - independent ownership/management of component manufacturing often on the same site as their assembly/stamping plant.
What is common is external ownership/management of supporting infrastructure - ie. construction/operations camp, administration facilities, workshops, heavy haulage equipment, embedded contractors (including operations contractors) & contractor facilities on site.
Some of the proposed BOOT components - supply of acid/reagents - are all available on market but would be at higher cost were they to engage an external supplier to meet higher demand (security of supply), transport costs etc
The value adding component to produce TIO2 powder/TNG360 I'd see not much different to a tolling agreement which are common in the mineral resources industry.
As for the water/waste water treatment component - this would make more sense to keep in house & a risk both for TNG's production and also for a 3rd party to provide this service - ie. either water or waste water processing shuts down & processing of the concentrate stops. So it will likely add to CAPEX IMO but drop OPEX.
As much as it wasn't a well timed announcement, it was in fact a good announcement as far as overall footprint/enviro impact/sustainability of the plant/refinery goes. Having a process that once the initial water for the plant has been sourced only needs make up water as it recycles internally most of what it uses, is a very neat solution for what TNG/SMS have put together with the TIVAN process.
So although I've not worked in processing facilities which have this BOOT arrangement, geographically locating the facilities within the TIVAN refinery footprint makes very good sense & would result in significant savings from a buy on market approach for the acids/reagents & paying someone to process their product to achieve the value added outcome (TNG360) they are seeking.
And alongside the TNG360 product, this same arrangement could be potentially used to value add to produce Vanadium battery electrolyte & Ferro Vanadium where the latter is already a consideration with the technology agreement they have with Woojin.
The risk if they can't attract an investor to build the BOOT components on site IMO, would simply be higher OPEX costs for someone already on the market to supply these goods & services, not impacting the core TIVAN refinery processing plant at all.
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