The Growtth Op reports .  that  Cannabis producer FoliuMed has completed the construction of its first greenhouses on a 16 hectare grow site close to Bogota, where the company will produce more than 70 tons of medicinal hemp and cannabis plants in 150 greenhouses.

“The plants will be processed into oils and sold as pharma-grade ingredients to international producers of cannabis medicine for stress, anxiety and sleep disorders,” notes a press release issued by Spring Capital, an investment firm that specializes in both international gaming and cannabis operations in regulated markets.

“We believe that our cultivation site offers one of the more favourable grow conditions in the world, and are ready to scale up if demand meets our expectations,” says Mark Ziegler, who leads the company’s cultivation team.

“Colombia’s favourable climate and labour costs allow us to grow premium-quality, sun-grown hemp and cannabis at a fraction of the cost in North America,” says Diego Felipe Navarro, Colombian CEO for FoliuMed, an international cannabis company with cultivation, production and distribution assets in Latin America and Western Europe.