Pharmaceutical cannabis companies to invest €255 mln in Greece

Naftemporiki — The head of an industrial hemp and pharmaceutical cannabis manufacturer in northern Greece assessed recently that new investments in the sector will reach 255 million euros by 2019 for new units in the region.

Speaking to the national news agency, Cannatec Greece director Dionysis Sarmazanidis added that some 2,000 new jobs will be created in the sector, not counting producers and other suppliers.

According to Sarmazanidis, Cannatec, a subsidiary of Golden Greece Holdings, has signed agreements with European companies to supply hemp products, including a deal with Mercedes Benz. The German automaker uses industrial hemp in the production of vehicles.

A major facility is set to come online in mid-2019 near the town of Kilkis, a project budgeted at 150 million euros, he said.