30,000 sqm cannabis farm planned near Byron Bay

The Hydroponics Company, also known as THC Global has confirmed its plans to build the facility just south of Byron Bay, in Ballina Shire. CEO Ken Charteris confirmed in a report published by The Green Fund that the company has a production and manufacturing site with Jenbrook in Ballina. More than 50,000 kg of cannabis is expected to be produced at the facility each year in the first stage of production. An astronomical number that'll easily meet the supply of Australia's current demand. Due to security measures and the close proximity with many of the Byron Bay locals, the exact location of the facility cannot be published. Ken added:

The company expects to complete the build-out of the entire facility (which is not just one greenhouse, but a full-scale cultivation facility with multiple greenhouses, and multiple other processing facilities) in the next six to 12 months as licencing and approvals progress.

THC Global has ambitious plans for the years ahead, with the company expecting to harvest the first crop at the facility in late 2019 or early 2020. That's even without current licensing requirements from the NSW Office of Drug Control, and being granted approval for the development of the facility by the Ballina Shire Council. Good news for any students looking to make their way into the Australian cannabis industry, Ken also went on to add:

We can say that we will look to local universities and other educational institutions to see if there are opportunities to support Australian students looking to build experience and expertise in this area.

Although currently, they're unable to provide exact details regarding staffing levels and what type of roles will be available in the cannabis cultivation facility. THC Global is one of the most talked about cannabis stocks on the ASX. It stands with a current market cap of around $75 million in March 2019.