Canadian company Tilray, a world leader in the production of cannabis for medicinal purposes, has said it expects to invest €20 million in Portugal by 2020 to produce medicinal cannabis to supply the European market.
In comments to Lusa News Agency, the company said it chose Portugal because of the good weather for growing the plants. The country was also chosen because of its access to the common market and highly qualified biotechnology workers, Tilray said.
The fields, manufacturing units and laboratories in Cantanhede near Coimbra, will employ 100 people and the company expects to produce 60 tons a year by the end of 2018.
Medicinal cannabis and the derivatives produced in Portugal will be for the European market, particularly Germany, where the use of cannabis for therapeutic ends was legalised this year.
The medicinal use of cannabis is prohibited in Portugal, Lusa states, although some parties have said