A £150 million medicinal cannabis research and production facility in the UK has been proposed by developer Peel NRE for the Isle of Man. Recently, the legislation changed to allow the cultivation of cannabis on the island and its export. This was an effort to position the Isle of Man as a leader in the developing medicinal cannabis market. In the meantime, these proposals for the specialized scientific research and innovation center follow this change.
The first phase of the development is covered in detail in the Peel NRE planning application. In addition, the phase includes two units for the cultivation facility, an access road, engineering works and a first landscaping. Its plans call for a sustainable energy park with an 11-14 MW solar farm to power the facility.
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UK medicinal cannabis research and production facility is game-changing opportunity for Isle of Man
The proposed development is located at the intersection of Cooil Road and the A5 (New Castletown Road). Therefore, it will help the Isle of Man cultivate local talent that will contribute to cutting-edge research on cannabinoids for pharmaceutical use.
“This is a game-changing chance for the Isle of Man to get ahead in a modern and exciting industry that will bring many benefits to the island and its people,” said Myles Kitcher, Managing Director of Peel NRE, a division of Peel L&P. “We also hope it will inspire more renewable energy programs in the region.”
“The development of the Island’s medicinal cannabis sector is so critical. Indeed, this will help the government in its efforts to diversify the economy. Furthermore, it will help generate a vibrant new sector to promote investment and skills on the Isle of Man,” said Dr Alex Allinson MHK, Minister of Treasury. “We continue to welcome interest in the development of this sector, and we aim to build world-class infrastructure.”
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