Plans outlined for £100m Isle of Man medicinal cannabis complex

Plans for a £100m complex on the Isle of Man to grow and export medicinal cannabis could be "game-changing", the firm behind the scheme has said.

Peel NRE has outlined proposals to build indoor cultivation facilities alongside a new research campus on land near Cooil Road in Braddan.

The firm is currently asking for views from the public on the plans.

Finance director Chris Eves said there was "never a better time to grow the industry than the post-pandemic era".

The firm is part of billionaire island resident John Whittaker's Peel Group.

The project would see the construction of atmospherically-controlled buildings to develop high potency cannabis products for the pharmaceutical market, Mr Eves said.

The complex would include cultivation units protected by "comprehensive security measures" and research and development facilities, he said.

The development would bring specific education and employment opportunities to the island in a "high-tech, scientific research" area, he added.

Licences for the production and export of medicinal cannabis on the island have been available since June last year, and the Gambling Supervision Commission is responsible for regulating the sector.

Mr Eves said the law change, coupled with the zoning of Peel NRE's land at Braddan for employment use, had paved the way for the plans to progress.

The firm has already held "high level" talks with potential operators of the cultivation facilities, who would need to apply for the licences, he said.

An initial planning application will be submitted later this year.

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