Medicinal cannabis manufacturing gains traction

Photo: LeafCann

Three medicinal cannabis manufacturing facilities have been granted Major Project Status as part of a move to help develop Australia’s medicinal cannabis industry.

“When you combine our world-renowned agriculture sector, with our trusted reputation for medical products, Australia is in a unique position to dominate the global medicinal cannabis industry,” Minister for Industry, Science and Technology Karen Andrews said.

“Each of these projects will also drive economic growth, including in regional areas.”

Biotech company, LeafCann plans to produce high quality, pharmaceutical grade medicinal cannabis ingredients and medicines in Adelaide, South Australia as part of a $350 million investment.

When its state-of-the-art cultivation and production facility is fully operational it is expected to generate more than 1400 jobs, in addition to 850 during development.

PhytoGro’s $140 million medicinal cannabis cultivation and medical device manufacturing facility in Melbourne’s inner west is estimated to create around 300 new ongoing jobs at full capacity.

Cannatrek’s $160 million medicinal cannabis cultivation and manufacturing facility in Victoria’s Goulburn Valley region is expected to create 400 full time positions at full capacity.

Last year it was announced medicinal cannabis licence applications for projects granted Major Project Status were being prioritised within the Office of Drug Control’s licencing process. Six medicinal cannabis projects have been given such status since then.

Major Project Status provides companies with extra support from the Major Projects Facilitation Agency, including project support and coordination, and help with state and territory approvals.