Which non-treaty states could build their own dreadnoughts?

Could a state outside the main naval treaties have built its own dreadnought hulls?

Sweden, and probably Canada, had the technical base but would first have needed capital-ship-sized yard infrastructure.

Technical capability is separate from installed infrastructure. Sweden possessed armour-making and weapons capacity and could probably have built dreadnoughts after enlarging or creating the necessary yard. Canada could likewise have developed the facilities, though its Commonwealth position complicates the treaty question. Possessing engineers and weapons expertise is not the same as maintaining the docks, cranes and production flow needed to assemble a capital ship.