Thursday, 20 September 2018 | News today: 0

US company opens brownfield plant in Skopje to produce cannabis oil

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A plant for the production of cannabis oil for medicinal purposes was opened Tuesday in Skopje at the site of OHIS, a defunct company of the chemical industry. The production facility is an investment by the US company NYSK Holding.

The company in the next five years is planning to invest $3-5 million. NYSK has already invested €500,000 to renovate the brownfield facility covering an area of 2,000 square meters. 15 full-time employees are already working in the company, which plans on hiring another 50 people by the year’s end and a total of 200 people in the coming five years.

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“Only a few nations in the world have the legal right to grow and export medical cannabis. Now, Macedonia is one of them, which makes us a new destination for the emerging industry,” Minister for Foreign Investments Jerry Naumoff said addressing the inaugural ceremony.

NYSK Holding founder Vanco Tolomanosi, who is a Macedonian expat, said cannabis would be the medical savior of many patients who were battling cancer or epilepsy. “It is expected medicinal cannabis to record sales of over 20 billion in the EU by 2021,” he said.

John Montgomery, medical marijuana investor and expert, said the company would produce a high-quality medical marijuana.

Today’s event comes a as a result of the efforts of the government and the Ministry of Health to regulate the use of marijuana for medicinal purposes in Macedonia, according to Deputy PM and Health Minister Nikola Todorov.

“With this investment, foundations are being laid in growing cannabis for medicinal purposes,” Todorov stated.

VMRO-DPMNE leader Nikola Gruevski was also in attendance.