The City of Cape Town on Thursday said it has taken a decision to release vacant land for the production of medical cannabis in Atlantis, which would see billions being invested and hundreds of jobs created.
Mayoral committee member for economic opportunities and asset management, James Vos said the report approved by the City’s Council to release the land was testament to its commitment to partner with the private sector to explore new opportunities to grow the economy, and to seek approval for the transfer of a portion of vacant land within the Atlantis Special Economic Zone for the establishment of the first medical cannabis plant in the metro.
According to the City, the set-up of the facility will bring with it an investment of R638 million in capital expenditure during the construction of phase one, a further R1.5 billion will be invested during phase two which is expected to commence in about four year’s time and by the end of phase two, employment opportunities for 250 individuals would have been created.
This is the second facility planned for Atlantis. A similar facility for the cultivation and processing of medicinal cannabis into oils and capsules was being developed on a private farm in close proximity to the industrial area. Other locally-based players in the industry include a manufacturer of modular cannabis cultivation kits in shipping containers in Somerset West.
- African News Agency (ANA)
