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$450m medicinal cannabis project kicks off in Queensland
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$450m medicinal cannabis project kicks off in Queensland

Norton Rose Fullbright

Norton Rose Fulbright has advised Asterion on a $450 million medicinal cannabis project in Queensland.

Firm: Norton Rose Fulbright (Asterion)

Deal: Asterion (Australia) Pty Ltd has been advised on what 's being dubbed one the largest purpose-built medicinal cannabis greenhouse facilities in the world.

Value: $450 million

Area: Projects, infrastructure

Key players: Norton Rose Fulbright partner Tom Young led the team, with assistance from partners Keira Brennan, Rebecca Hoare, Peter Mulligan and Greg Reinhardt; special counsels Julie Brown and Adam Carlton-Smith; senior associates Meg Johnson, Peta Bunce, Rebecca Ebzery, and Matthew McKeown; and paralegal Gail Reade.

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Deal significance: The $450 million production facility is located near the regional hub of Toowoomba, Queensland in close proximity to the Toowoomba Wellcamp Airport.

The facility is planned to be automated and powered by renewable energy and is expected to have annual cannabis production capacity of approximately 500,000 kilograms, a statement from NRF said.

“We are grateful to have worked with the Asterion team on such a bespoke and cutting-edge project that will deliver benefits, not only to the Queensland economy, but also to the health of people around the world,” said NRF lead partner Tom Young.

“We undertook extensive due diligence of many potential sites in south-east Queensland in order to identify a property which would meet all of our client’s requirements, including appropriate growing conditions, tenure, zoning, access to labour and export markets, and which could accommodate all regulatory requirements for the cultivation, processing and transport of medicinal cannabis.

“This was a unique opportunity for us to apply our extensive property, aviation, planning and development knowledge to a large infrastructure project of international significance, governed by a newly developing area of law.”

Emma Ryan

Emma Ryan

Emma Ryan is the editor of Lawyers Weekly at Momentum Media.

Emma has worked for Momentum Media since 2015, and has been responsible for breaking some of the biggest stories in corporate Australia. She also directs the content for Lawyers Weekly's stable of events, including the Australian Law Awards, the Women in Law Awards and the Boutique Law Summit. 

A journalist by training, Emma has spent her career connecting with audiences across a variety of platforms, including online, podcast and radio.

She graduated from Charles Sturt University with a Bachelor of Communications (Journalism). 

You can email Emma on: This email address is being protected from spambots. You need JavaScript enabled to view it. 

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