My take on it, is that whilst the new facility in Henderson might be ready by 2031, it could also quite easily not be ready by then, and for a variety of reasons.
The concerns revolve less around Australia being able to get the actual infrastructure of a new shipyard built, but more about all the things which need to happen in order for the construction to take place and be at a reasonable pace. Assuming (yes, I am aware of what it means to assume) no major disruptions in supplies once ground has broken, then a three year construction timeframe sounds reasonable, albeit I have and claim no expertise on such matters. However, I could a number of issues which could arise which might delay real ground breaking. These issues could run from things like legal challenges by various parties not satisfied with whatever the arrangements are, to demands for more (esp significantly more) funding to complete construction and get the yard operations. Given the likely economic impact which has still not really hit from disruptions to the global petroleum supply chain, inflation could very possibly cause costs to spike, and/or certain materials just become unavailable.
Then there is also the very real possibility that pollies could interfere or even disrupt getting a new yard in WA established and operational. Now I am not posting this to be political, but to make people aware of something that they likely have not realized or perhaps have overlooked. The current (31st) PM of Australia is Anthony Albanese who has been in office since May of 2022. I had to go back to the 25th PM, John Howard (March 1996 to December 2007) to find a PM who held the office for longer than about four years. This means that Australia has not had a PM serve for more than five years in nearly two decades. This in turn suggests that the current PM could easily be out of office within a year or two if not less, followed by a change in gov't. Following a change in gov't it could be very, very easy for a different, future gov't to make changes to plans drawn up by their predecessors but not put into action. Particularly if the plans were made at the time with an eye to advantages gained by the then sitting gov't, but which provided little or no advantage to whomever was the incoming gov't.
Or put another way, if there were to be a change in gov't before construction of the new yard really got started, would WA still have enough political influence with the new gov't to keep the plans moving forward?
There would also be the matter of getting a workforce established at the new yard. No idea how long it would realistically take to get the yard workers appropriate skilled, or how far along the yard would have to be to start recruiting and skilling the workers, but I would imagine it would take anywhere from several months to several years.