Murray River Organics Group Limited announced it has signed an agreement for the sale of 113ha of planted conventional citrus and wine grapes at its Nangiloc property to a subsidiary of Costa Group Holdings Ltd. for $4.5 million. Coupled with surrounding vacant land, the sale comprises 390 ha of MRO's 3,040 ha Nangiloc property, which is effective from 1 October 2020. The parcel includes citrus and wine grape plantings with final settlement of the sale subject to registration of a plan of subdivision, which is anticipated to complete in early 2021. Under the terms of the sale, Costa will take responsibility for the operations and management of the parcel to be sold, including responsibility for operational costs, and entitlement to crops. The Group will lease the property to Costa until the sale is finalised. The remaining 2,650 hectares of the Nangiloc property is the subject of a feasibility study, Project Magnum, focusing on optimum crop combinations and a potential localised desalination plant water solution. As previously announced, MRG has shortlisted parties for the sale of the Fifth Street property and is in the final stages of the sale process.