An area for the extraction facility of oils from medicinal cannabis which would be produced here once legislation is passed has already been identified.
The lawyer for Acres Agri noted that in the first twelve months the company would like to lease and develop more than 500 acres of farmlands.
“Already registered we have met that goal, we don’t have leases yet, that would be done as soon as the laws are passed, but as indicated we have 500 acres able and ready to work with”.
Elliot stated that for every acre they would need at least two workers, it may sound like a small number he said, but with the development of 500 acres, that’s one thousand workers.
“That is within the business structure for now, but there are fringe jobs, like security, land clearing services, and irrigation services, which will create additional jobs”.
Elliot says the land leases will be costly, the machine for the extraction of oils will cost some 3.5 million dollars, and the company is looking to acquire two.
“The development of the plant itself will cost US 10 Million dollars”.
Elliot said they have already engaged the services of the two security company on the island which is a requirement of the Canadian standard, which calls for 24hr monitoring.
Acres Agri would be providing seeds for the growing of the medicinal cannabis here in St Vincent and the Grenadines.
This is to facilitate the strains that would provide the optimal results in CBD’s.