LeafCann Group is pleased to announce that its South Australian medicinal cannabis facility has received ‘Major Project Status’ from the Australian Government. Major Project Status is defined as “the Australian Government’s recognition of the national significance of a project – for economic growth, employment or for regional Australia”. LeafCann’s project applies to all three categories.
As part of a $350 million investment, LeafCann will produce high quality, pharmaceutical grade medicinal cannabis ingredients and medicines in its state-of-the-art cultivation and production facility in South Australia.
“We are excited to receive major project status from the Australian Government as this will enable LeafCann to expedite the company’s expansion plans and presence in South Australia; to assist in bringing together local, national and international partners to ensure Australia cements its position at the forefront of global innovation of this exciting industry.” said LeafCann CEO, Elisabetta Faenza. “LeafCann’s core objective remains ensuring the delivery of the highest quality products at a fair price to Australian patients first, followed by developing the substantial export market potential.”
Minister for Trade and Investment David Ridgway said that the South Australian Government is pleased to see LeafCann’s facility receive Major Project Status from the Federal Government.
“LeafCann’s operation is expected to generate more than 1400 jobs, in addition to 850 during development, which will provide a major boost to the South Australian economy.
Medicinal Cannabis is an emerging sector and has potential for future growth across international markets. This project complements the Government’s economic vision of growing our state by 3 per cent through increased trade and investment, which is why we’ve opened trade offices in China and Japan and have offices opening in Houston, Dubai and Malaysia soon.”
LeafCann’s facility is expected to begin operating within the next 12 months.