Construction is due to start on what is claimed to be one of the world’s largest medicinal cannabis farms near Toowoomba, Queensland.

The Gold Coast Bulletin reports Asterion’s farm will grow 40 hectares of cannabis in four 10-hectare greenhouses and export via Wellcamp airport.

Toowoomba mayor Paul Antonio

Labs will produce more than 10,000 plantlets a day, growing into 500,000kg of cannabis a year and netting exports tipped to be worth A$1bn per year.

It is expected the facility – due to be in operation by the end of 2022 – will eventually employ around 1,000 people.

Toowoomba mayor Paul Antonio said there was “tremendous potential” for the area: “We are expecting an extra 55,000 people here by 2051.

“Water is a limiting factor and connectivity will be particularly important, like fast rail. If we were to get more water we have some of the richest agricultural land in the world west of Toowoomba.”