I think you are a bit confused by the report. A $40m debt funding agreement with the German bank is imminent. But more is required, using regular bank loans and possibly a CR, to all be finalised by the end of Q3...according to Altech announcements.
They have also announced they are expecting to begin project development this quarter. Appointing the contractor is a good sign that this is about to occur.
Ann: Altech Appoints M W Group as EPC Contractor for HPA Project, page-8
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