With an investment of $10 million, the first project for the cultivation and processing of industrial hemp in the country will be opened. This occurs after an alliance between the international company Green & Growth and Nobis Holding de Inversiones, with the support of Laiha (Latin American Industrial Hemp Association, for its acronym in English).
For a first phase of cultivation, 100 to 1,000 hectares are worked, and the projection is to scale to large extensions with higher investments, from $25 to $50 million, starting in 2025. This action will generate jobs, according to the release.
“This crop is committed to being a response to the global need for resources, because it is used as an innovative alternative for the production of composites and other construction materials, as well as for the supply of the textile, food, automotive and agricultural sectors, among others,” the document states.
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In addition, within the benefits of hemp is that of being one of the largest soil recoverers. And its carbon sequestration potential is higher than that of traditional crops. It is also one of the most resistant fibers in the plant kingdom.
Green & Growth is an international company dedicated to R&D, production and supply of sustainable raw materials “that has identified Ecuador as its starting point to carry out its activities in the region thanks to the progress in its legislation regarding industrial hemp and the environmental conditions”.
The project seeks the production of high-grade materials, such as technical fibers, nanofibers or biochar, among other products, with added value for export and stimulation of the national market. (YO)
Source: Eluniverso
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