"The cost of construction, including the purchase of land on which the spray drying facility will be located, is approximately $55 million."
The remaining $15 million would be for working capital.
What cows? ODFA will continue as a separate entity providing the milk. The JV is simply for a spray-drying facility that WHA will A. make money from loan interest and B. have first right to buy all powdered milk from annual 63 million litres worth of certified organic milk.
Please read the announcement properly
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- Ann: WHA Enters into JV with ODFA
Ann: WHA Enters into JV with ODFA, page-23
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