cannabis plant

Medicinal cannabis group to invest €9.5 million in Coimbra production facility

Master Med Cannabis, a company dedicated to the production of medical cannabis, is to invest €9.5 million and employ about 55 people by the end of 2024 in Penela, in the district of Coimbra. The company, founded in April 2019, is building a manufacturing unit dedicated only to the “cultivation” of cannabis for medicinal purposes, in order to “help people who have serious illnesses,” CEO Miguel Nobrega Gouveia told Lusa news agency today. Located in Infesto, in Penela, the 60,000 square meter factory has an investment of €6.5 million and should be completed in November this year. A further €3 million is also planned by the end of 2024, earmarked for the purchase of land, to grow cannabis without natural light, as well as collaboration with the strategic sectors business innovation habitat (HIESE), Penela’s incubator focused on rural innovation, and the University of Coimbra (UC).