Tabuk seeks to partner with NADA on Sudan crop-feed project

Tabuk Agriculture Development Co. (TADCO) has signed a memorandum of understanding (MoU) with Al Othman Agriculture Production and Processing Co. (NADA) to explore the feasibility of becoming strategic partners in a crop and feed production project in Sudan, TADCO said in a statement to Tadawul.

However, the two parties won’t sign any partnership agreement until they manage to get electricity supply for the project, TADCO said.

TADCO, one of the Saudi Arabia’s leading agricultural companies, had raised SAR 23.8 million in a rights issue earlier this year to finance this crop-fodder project in Sudan.

In August, the company said had begun buying equipment and recruiting staff.