It should have been built years ago, a2m have toyed with this idea from as far back as August 2020, prior to obtaining their stake in mvm.
Commencing construction at mvm now would resign Synlait's Dunsandel plant to a maximum operating life of 3 years, (subject to other customers). It reduces the appeal of the asset, to synlait and to other third parties.
Synlait could sell at firesale prices, or they could strike a deal for a limited lifespan asset for slightly more.
Synlait could also let everything burn, but that would fly in the face of China's policy around maintaining/acquiring strategic agricultural supply and their concerted efforts to increase fertility. Wiping out a popular IF player, that is most popular in high income/low fertility areas, may not be supportive of the social environment that they're trying to foster.
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