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JUST IN: $10m for cannabis production

17 Sep, 2018 - 18:09 0 Views
JUST IN: $10m for cannabis production

The Herald

Sydney Kawadza Mash West Bureau Chief

At least $10m has been set aside for the establishment of Zimbabwe’s first ever medicinal cannabis production facility in Mazowe, Mashonaland Central.

Operating under the firm, NIRCAN ZW Ltd, a subsidiary of the NIRCOM A.S.I.G, the consortium has already applied to Government for a Medical Cannabis Cultivation and Growing Licence for Export.

Government in April this year announced that individuals and businesses could apply for licences to cultivate cannabis for medicinal or scientific purposes.
According to sources, former Health and Child Welfare Dr David Parirenyatwa had, in principle, agreed to the application by NIRCAN ZW Ltd.

Issuance of the licence will lead to the establishment of the Medical Cannabis and Growing Centre in Mazowe.
According to documents gleaned by The Herald recently, NIRCAN ZW Ltd has set aside $10m for the project’s first stage.

The budget includes $4m for the basic assumption, which includes cultivation and growing centre with a gross size of 50 000 square metres.
This would also include the establishment of one Greenhouse growing unit and an outdoor growing unit.

The budget also includes working capital of $4,5 million for the first year and $1m set aside for miscellaneous expenses.

More to follow…

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