The Australian Securities Exchanged-listed medical cannabis firm, Cann Group, has announced a deal with Australia Pacific Airports (Melbourne).
The cultivation and manufacturing agreement will see 2,500 hectares of land in the Melbourne Airport precinct used to produce medical cannabis.
The airport owner will fund the multi-million-dollar construction of the facility, which will be designed by Aurora Larssen Projects.
The cannabis company, which is partly owned by Aurora Cannabis Inc, will finance the site’s equipment with $100mn, and employ 170 members of staff.
“APAM’s contribution to the construction of these facilities will enable Cann to invest additional capital in increased cultivation capacity; expanded development and production capabilities, while also allowing for further future expansion,” said Peter Crock, CEO of Cann Group.
“As per our ongoing strategy, the facility provides Cann with the necessary scale to compete on the global stage in the medicinal cannabis sector.”