A little known Adelaide company LeafCann is planning to invest $350 million in a major cannabis cultivation and production system, according to federal industry minister, Karen Andrews.
The company, one of three to receive major project status from Canberra, plans a state-of-the-art cultivation and production facility in South Australia.
Other projects are:
# PhytoGro’s $140 million medicinal cannabis cultivation and medical device manufacturing facility in Melbourne’s inner west
# And Cannatrek’s $160 million medicinal cannabis cultivation and manufacturing facility in Victoria’s Goulburn Valley.
LeafCann CEO, Elisabetta Faenza said: “We are excited to receive major project status from the Australian Government as this will enable LeafCann to expedite the company’s expansion plans and presence in South Australia.
“LeafCann’s core objective remains ensuring the delivery of the highest quality products at a fair price to Australian patients first, followed by developing the substantial export market potential.”
As part of a $350 million investment, LeafCann will produce high quality, pharmaceutical grade medicinal cannabis ingredients and medicines in its state-of-the-art cultivation and production facility in South Australia.
South Australian trade minister David Ridgway said LeafCann’s investment would generate 1,400 jobs, in addition to 850 during development.
The company said its facility would be operating within 12 months.
Picture: LeafCann/Elisabetta Faenza
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