Following a bill that plans the legalization of medical marijuana in Greece, reports surfaced of a potential €1 billion investments for the new industry.
Due to the country’s warm climate, Greece would be a good spot for growing the drug. Several Canadian marijuana companies have expressed interest in spreading their business. Aphria, a medical marijuana producer based in Ontario is reportedly planning on getting a 5,000-hectare property in Greece.
Another company by the name of Golden Greece Cannabis is ready to establishing weed crops near Thessaloniki. The operation is expected to grow into a factory for marijuana. GGC is reportedly ready to spend €400 million in their new business and then growing to €1 billion.
While Greece legalized medical marijuana, the drug is still illegal for recreational use. Nevertheless, the new industry will certainly attract investment and create thousands of jobs. Since Greece’s economy suffered a great blow in the recent economic climate, the country has to turn to alternative forms of stimulating business growth.