The Greek company Kalacan Hellas S.A. recently announced that it had received its medical cannabis installation license, allowing the company to establish manufacturing facilities in Europe to produce cannabis.
The company plans on building its large-scale greenhouses on a 77,258 square-meter (831,598 square foot) licensed plot in the region of Kalamata, Greece, including EU GMP processing and manufacturing facilities. Such facilities are designed for the professional manufacture and packaging of pharmaceutical products.
Construction is expected to begin later within this year.
According to Kalacan Chairman and CEO Athanasios Katsikas, “Greece and Kalacan are now on the cannabis world stage, and we will continue to build towards becoming a global leader. We look forward to developing this exciting industry in Greece and Europe generally, with a direct benefit going back into our community and country.”
The new facilities are also expected to create hundreds of jobs for the local community, which are expected to increase in number as the company further expands its operations.
Kalacan Hellas S.A. estimates a total of 100,000 kilograms (220,000 pounds) of dried high-THC cannabis to be produced annually once the company starts operating at full capacity.
A total of 12 million units of finished, consumer-packaged cannabis-based products are also expected to be exported across Europe as well as other select target markets.
The installation license is one of the most largest to be issued by the Greek government. Securing an EU-based license will also provide Kalacan with a first-mover production and distribution platform in the developing European cannabis market.
Kalacan Hellas S.A., a European pharmaceutical company based in Athens, Greece, is positioned to be one of the first EU-based commercial cannabis producers in the European market.