Good point, although I guess that would have been an estimate from over 5 years ago now and costs might have increased.
Plus you'd expect to pay a premium for a fully operational facility that has satisfied audits / received certifications etc. Rather than building from scratch.
It's still a huge chunk of change, hopefully it is state of the art, good location etc. I'm pretty confident they will not go through with it unless it ticked all boxes. Given how long we've waited for any use of the capital, its clear they won't be rushed. And they would have taken plenty of lessons from Synlait's overinvestments in infrastructure - what NOT to do.
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