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Greece Issues Fourth Permit for Medical Cannabis Unit; 43 Pending

April 9, 2019
ANA

The general secretariat for industry has so far received 43 applications for licences to establish units for the production and processing of medical cannabis products, Greek authorities announced. The publication of the latest licence issued in the Government Gazette on Monday brings the total number of permits issued for medical cannabis production units to four.

Monday’s decision grants permission to the company Pharma Essenza Cannabis Company Pharmaceutical Cannabis SA to produce and process medical cannabis on a single site of 8.53 hectares in Adravida, Kyllini. The unit represents an estimated investment of 80 million euros and is expected to employ a staff of 60.

The first two companies to be given permits were Biomecann SA, based in Larissa, for an estimated investment of 9.5 million euros and Bioprocann SA, based in Corinth, with an estimated investment of 12.5 million euros, employing workforces of 51 and 66 employees, respectively. The third licence was given to Tikoun Olam Greece SA in the Examilia industrial park in Corinth, with an investment of 9.0 million euros and a workforce of 38.

All the licences have a five-year duration and the supporting documentation required must be updated on an annual basis.

The 43 applications that are still pending represent a total estimated investment of 529 million euros and are expected to employ 2,862 workers.

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