Two Canadian companies have announced plans to invest in Victoria's medicinal cannabis industry, further boosting the state’s plan to become the “medicinal cannabis hub of the southern hemisphere”.

Cannatrek announced a $30 million investment which will see it expand its Australian production and manufacturing in Victoria, through a partnership with Toronto listed company CannTrust.

The move will create up to 75 new local jobs in Shepparton and Latrobe University.

While Cronos Australia announced the state will become home for its Asia-Pacific headquarters with plans to establish a state-of-the art research and development centre, expecting to create around 120 new jobs.

Cronos Australia will establish a local cultivation, manufacturing and research facility in Victoria across the next five years.

The company, which is connected to Canada-based Cronos Group - the first cannabis company listed on the Nasdaq, says its production facility will span a 120-acre site in Central Victoria.

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