The expansion is delivered over a phased, milestone-driven programme. The Gantt chart below sets out the workstreams, sequencing, dependencies and critical milestones across the five-year horizon, with the fastest-returning processing and logistics investments front-loaded to underpin debt service.
11.1 Critical milestones
|
Milestone |
Timing |
Dependency |
|---|---|---|
|
Financial & funding close |
Q1–Q2 Year 1 |
DFI approvals, security registration |
|
Processing lines commissioned |
Year 2 |
Financial close, equipment procurement |
|
Cold-chain & packhouses operational |
Year 2–Year 3 |
Civil works, logistics fit-out |
|
Green-energy plants live |
Year 3 |
Grid/EPC contracting |
|
Full 120k-tonne capacity |
Year 4 |
Phase-1 ramp complete |
|
Orchards reach first bearing |
Year 4–Year 6 |
Phase-2 establishment (multi-year lag) |
|
Steady-state export scale-up |
Year 5+ |
Offtake expansion, market access |
Table 11.1 Critical milestones and dependencies.
11.2 Delivery approach
- Phased drawdowns: DFI capital drawn against verified milestones, aligning funding with construction progress and protecting lenders.
- Dedicated PMO: A project-management office owns schedule, cost, procurement and contractor performance across all five phases.
- Ramp discipline: Processing throughput scaled in step with commissioning and offtake, avoiding stranded capacity.
- Contingency: Cost and schedule contingencies built into the programme, with a debt-service reserve buffering the ramp.
Analyst flagThe critical-path risk is the construction-to-ramp window
The programme concentrates capital deployment in Years 1–3, before the new capacity and orchards fully ramp, the classic project-finance J-curve. Slippage in commissioning, cost overruns, or a slower-than-planned processing ramp would pressure coverage during exactly the period when debt is being drawn. The construction-period grace on senior debt, the debt-service reserve, and the front-loading of the fastest-returning phases are the structural mitigants, but disciplined delivery through this window is the single most important execution priority.