National Agricultural Development Company (NADEC) [6010.SE] announced that it had completed 74% of the reclamation works related to phase I of its Sudan agriculture project (3,200 hectares), for an investment cost of cSAR82 million to date. The company began trial experimental harvesting on a portion of the land and will soon ship the crop to Saudi Arabia to be used at its farms. Nadec expects to complete 100% of phase one by 1Q2016, the disclosure added. NADEC announced previously in 2014 that it had secured 60,000 feddans (25,200 hectares) of land in North Kurdufan, in Sudan, while the company’s BoD had approved the execution of the phase I. (Company disclosure)   NADEC: SAR32.09 as of 31 December 2015, Rating: Buy, FV: SAR39.50 per share, MCap: USD659 million, NADEC AB / 6010.SE