I hadn't quite got that far, but, yes it will. From what I could find, the munitions factory is still operating and is now owned by Thales. Not sure about the rail spur though, it was gone by 2005 on Google Earth. I think it would be a good thing to include for a bit of variety in running. The wagons were most likely I or GY, no idea what the loco would have been though. You might be able to find it in this booklet, Phil.Does that model include the short line to the gun powder factory at Mulwala? I used to walk that line looking for spikes as a child. From memory it was served by a curious little loco which hauled 3 or 4 open trucks that looked like the NSWGR S trucks (not sure what the Victorian equivalent was called).
http://victorianrailways.net/vr history/power_parade1981.pdf
cheers
Graeme