Medical cannabis company invests 2.3 million in Portugal

A company dedicated to the production of medical cannabis will invest 2.3 million euros in its unit in Castelo de Vide, in the district of Portalegre, Portugal. The goal is to increase production quality.

In statements to the Lusa news agency, the Mayor of Castelo de Vide, António Pita, explained that he received this information during a meeting held recently with representatives of the company Bio Leaf Health.

The company, based in France, established a production unit in 2021, in the rural parish of Póvoa e Meadas. With this new project, the total investment in this medical cannabis factory amounts to eight million euros.

"At this moment, with the seasonality effect, the company already employs between 30 to 40 people in different cycles of the year," observed the mayor. "Which is a very interesting number, especially for a parish that also suffers from the effects of rurality," he added.

According to António Pita, the purpose of this investment that the company will make is to "increase the quality of the product" compared to the current market value. "The production being done here is still far below the values that are practiced in the market for this product," he said. Therefore, he continued, "the introduction of greenhouses and equipment aimed at producing cannabis of better quality is the goal of this investment."

The Mayor of Castelo de Vide also indicated that the medical cannabis produced at the unit located in Póvoa e Meadas is marketed to several countries. The main markets include, notably, England, France, and Switzerland.

With information from Observador