National Agriculture Development Company (Nadec) [6010.SE] was awarded 75k feddans in Toushka in Egypt that the company plans to reclaim, according to an interview with CEO and Chairman, Abdel Aziz Al Babtain, on Al Arabiya. In December, the company was amongst 26 Saudi firms awaiting approval from the Egyptian Cabinet for an allocation of 300,000 feddans in the state's 1.5-million-feddan project. Nadec had received initial approval for the project in 2014 and is awaiting legal procedures to be completed to announce additional details. We expect the company to use the land to cultivate animal feed in an effort to increase its use of imported animal fodder (currently imports c30% of total needs) in line with Saudi Arabia’s target to phase out growing the crops locally. (Mubasher, Argaam, Nada Amin)     NADEC: SAR21.06 as of 12 April 2016, Rating: Neutral, FV: SAR16.36 per share, MCap: USD476 million, NADEC AB / 6010.SE