The City of Cape Town has approved the sale of a piece of vacant land in Atlantis for the purpose of growing medical cannabis.
According to economic opportunities and asset management mayoral committee member James Vos, the land to be used for the cultivation of cannabis is about 10 hectares in size.
The facility will also be used for the processing of cannabis into oils and capsules for medical use.
The application was received from Spectrum Cannabis to purchase the subject property for the process and the purpose of developing a pharmaceutical manufacturing facility, the first medicinal cannabis production facility in South Africa.— James Vos, Mayco member for economic opportunities - City of Cape Town
Yesterday the City of Cape Town approved the transfer of a portion of vacant land in the Atlantis Special Economic Zone.— James Vos, Mayco member for economic opportunities - City of Cape Town
The City's selling price is R6.8 million
This demonstrates our commitment as the city to partner with the private sector to explore opportunities to grow the economy.— James Vos, Mayco member for economic opportunities - City of Cape Town
Atlantis is known for its grim economic opportunities so this is a new opportunity that can potentially bring significant income jobs and skills in this area.— James Vos, Mayco member for economic opportunities - City of Cape Town
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This article first appeared on CapeTalk : City of Cape Town approves purchase of land for medical cannabis production