Media Release: Cannatrek’s $160 Million Shepparton Cannabis Production Facility Gets Export Boost with Granting of Major Project Status
Medicinal cannabis company, Cannatrek Limited, today announced that it had received Major Project Status from the Federal Government for its $160 million production facility in the Victorian regional city of Shepparton, with building of the site to commence in 2020, and medicinal cannabis production to begin in 2021.
Cannatrek CEO, Tommy Huppert, recently received a letter from Karen Andrews, Minster for Industry Science and Technology, informing the Company of the recognition, which Mr Huppert described as an “export booster” for both the Project and the medicinal cannabis industry.
Major Project Status is the Australian Government’s recognition of the national significance of a project – for economic growth, employment or for regional Australia. Projects that receive Major Project Status receive extra support from the Government’s Major Projects Facilitation Agency (MPFA), including help with coordination and facilitation of Commonwealth Government approvals.
Cannatrek’s Shepparton project will create more than 400 jobs a year for the Greater Shepparton area and beyond. The facility, which will be built in phases on 178 acres of land owned by Cannatrek, will include a 160,000m2 growing area under a giant high-technology glasshouse. When operating at full production, the company aims to produce 160 tonnes of medicinal cannabis per year, which will make it one of the world’s largest such facilities.
“Getting Major Project Status represents a significant step for Cannatrek and it will mitigate a lot of the regulatory and financial risk that major projects in Australia can face,” said Mr Huppert. “We are delighted that the Federal Government has recognised the importance of our Shepparton Project. This recognition represents a large part of our strategy to market. It is up to us now to deliver what the Government expects of us.”
Mr Huppert said that he was confident Cannatrek will be a major low-cost producer of medicinal cannabis for Australian patients, as well as for world markets. “Our aim is to cultivate, process and manufacture affordable medicinal cannabis as a clean, green, therapeutic product of choice for hundreds of thousands of patients in Australia and overseas.”
Local Federal MP, Damian Drum, said Cannatrek’s Project will boost jobs and provide enormous economic benefits to the local community. “This Project has the potential to be a game-changer for our region. Our region is an ideal fit for a Project like this thanks to our first-class agriculture sector and capacity to manufacture. This is going to create jobs both in the construction phase and ongoing.”
Up to 500,000 Australians buy cannabis on the black market each year in order to self-medicate. Trials of legal, medicinal cannabis are currently underway in Australia with nearly all medicinal cannabis being imported, making it expensive. As more countries legalise medicinal cannabis, Cannatrek will pursue multiple export markets.
Mr Huppert said Cannatrek chose the Shepparton region because of its abundant water, long hours of sunlight and passionate people with significant skills in agri-technology. “We believe that the region will become a major centre for the production of medicinal cannabis. We are delighted that the local Council is so enthusiastic about our Project.”
Cannatrek’s Queensland production facility is fully operational, with its initial plants close to harvest. It will produce 3-5 tonnes of medicinal cannabis a year.
For more information:
Tommy Huppert, CEO,
E: [email protected]
M: 1300 122 662
Rod North, Managing Director,
Bourse Communications Pty Ltd
T: (03) 9510 8309, M: 0408 670 706,
E: [email protected]
The CANNATREK Group is deploying an end-to-end industry blueprint, to provide a streamlined progression into the cannabis agri-tech industry. Cannatrek’s “seed to patient” business model is designed to reduce growth risk, maximise market share and target value-added wellness and medicinal cannabis products.
For more information, please visit www.cannatrek.com