Vacant land in Atlantis in Cape Town has been released by the City for the production of medical cannabis.
The City says the ground-breaking move is testament to its commitment to 'partnerwith the private sector to explore new opportunities to grow the economy'.
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 R1.5bn will be invested during phase two which is expected to commence by 2023.
Wesgro's Tim Harris says the project is a real boon for the Cape.
There are lots of investors interested in the space...we've had numerous meetings with international and domestic investors.— Tim Harris, CEO - Wesgro
The site itself is not actually within the Atlantis Special Economic Zone, but it is in Atlantis and if we can get legal licence production onto the site it'll be another big boost for the resurgence of Atlantis as a manufacturing and industrial hub.— Tim Harris, CEO - Wesgro
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This article first appeared on CapeTalk : Land in Atlantis earmarked for medical cannabis plant in Cape Town