What makes you think ANS needs to fund the capital costs? I’m...

What makes you think ANS needs to fund the capital costs? I’m assuming you are talking about Port and Rail.

It is likely that someone else will fund and build the Port and Rail and the likes of ANS and SDL will use it at a fee.

Just like companies that build motorways, they’ll build it if there are tolls coming there way at the end of it.

My hunch is someone is prepared to fund the Port and Rail in Africa, and keen to do the same in WA.

Only my opinion of course.
Time will tell