Medical cannabis Australia: Major new facility gets green light to grow medical marijuana
MELBOURNE will be home to the nation’s biggest medical marijuana growing operation, with a $100 million facility getting the green light in a surprising northwest location.
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MELBOURNE Airport will host the nation’s largest medical marijuana growing facility after signing a deal with Cann Group.
Australia’s largest producer and seller of medicinal cannabis, Cann Group this morning announced it had signed an agreement with Melbourne airport operator Australia Pacific Airports Corporation to build a 37,000 square metre growing facility within the airport precinct.
The growing facility will cost $100 million to build and employ 170 people, Cann said in a statement.
Cann was the first company in Australia to be issued with a licence under the federal government’s new regulatory system for medicinal cannabis use.
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Shares in Can have surged more than 800 per cent since it listed in May last year, riding the nation’s pot stock boom.
Chief executive Peter Crock said the support of Australia Pacific Airports put Cann in a strong position as it worked to expand.
“This site is ideally suited to our needs and the heads of agreement represents an important step that allows us to proceed with final design,” he said.
“As per our ongoing strategy, the facility provides Cann with the necessary scale to compete on the global stage in the medicinal cannabis sector,” Mr Crock said.
Australia Pacific Airports property chief Linc Horton said Cann’s decision to locate its growing facility within the airport precinct “is consistent with our strategy to attract high quality tenants that not only contribute to the long term objectives of the business, but seek to connect Victoria’s technology industry to the rest of the world.”
Under the lease agreement, Cann is permitted to operate cultivation, manufacturing, warehousing and distribution of medicinal cannabis, remaining responsible for all necessary government approvals required.
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