$400m medicinal cannabis plant
ONE of the world’s biggest medicinal cannabis production facilities is planned in Queensland amid surging demand for the pain relief medicine.
The $400m growing and processing facility near Toowoomba could produce 500 tonnes of the medicine each year and generate 1000 jobs. The project follows the merger between Byron Baybased Australian Natural Therapeutics
Group and Toronto’s Canadian Asterion Cannabis.
Construction of the 75 hectare complex adjacent to the Wellcamp Airport west of Toowoomba is scheduled to begin in the next few months, with the first 10 hectare facility operating by the end of next year.
ANTG chief executive and founder Matt Cantelo said the agreement represented a “golden opportunity” for Australia to reach its full potential in growing and cultivating medicinal cannabis, serving both domestic and export markets.
The company earlier this year signed a $92m, nine-year deal with Germany’s Cannamedical Pharma to export medical cannabis flowers to Europe.
“We have the gold standard in our regulatory framework, depth of research and climate for growing excellent produce,” said Mr Cantelo. “What we haven’t had is the option of scale.”