From a construction management background, the 3d model is a...

From a construction management background, the 3d model is a very important step. It is obviously part of a BIM model which VRX and the designers will be using to create a schedule of parts for procurement, plant layouts, project drawings, etc.

Once prepared, the model and it's components can also be used and referenced in management plans, procedures, submissions to government agencies, presentations to clients.

It also shows investors (not equity, more debt lenders like banks or the like) that the plan is coming together and it gives them something they can visualise.

Finally, when they go to tender for construction and installation of the plant, it will help the contractors understand their scope and will mitigate rework, defects, and maybe even environmental breaches.

Not the best explanation, but 3D BIM model is not a waste of money in my eyes.