SOUTH AFRICA - CITY OF CAPE TOWN GETS GREEN LIGHT TO GROW MEDICAL CANNABIS

The City of Cape Town, received approval yesterday to release vacant land in order to grow medical cannabis.

A decision that could possibly be described as a pioneering decision and is set to unlock the cities potential in this untouched field.

What exactly does this mean? While, several plots of land will be freed up. The city said it is expected to create 250 jobs and bring a R638m capital expenditure investment during the construction phase, and another R1.5bn during phase two-which is due to start in 2023.

This is the second facility planned for the tow, another one will be for the farming and handling of medicinal cannabis into oils and capsules on a private farm nearby.

In what will be the first medical cannabis plant in the Western Cape, which will be built on vacant land within the Atlantis Special Economic Zone.

The City, issued a statement that said that “The City of Cape Town’s council decision to release this erven in Atlantis is testament of our commitment to partner with the private sector to explore new opportunities to grow the economy”.

As the Atlantis area is known for its green ‘economic opportunites’. This new industry also hopes to potentially bring substantial income, jobs and development of skills specifically to the area. The Cities Enterprise and Investment Department along with Wesgro. Believe that this is another area of untapped economic potential.

Did you know, elsewhere in the province, there is a manufacturer of cannabis kits in shipping containers in Somerset West.

“These industries hold immense benefits for the city and its residents,” the city said.

via - SA BREAKING NEWS