ASCIANO has been chosen as preferred bidder for a $7 billion project in Saudi Arabia, as part of a consortium member of the so-called Tarabot group. Asciano shares rose as much as 5 per cent in morning trading after the company said it had been chosen in the consortium, involving seven Saudi Arabian partners, as preferred bidder to build the Saudi Landbridge project. Join discussion...

The Tarabot Consortium, led by Arabian Company for Power & Water Development (Acwa Power), is set to be named preferred bidder for the $2.5bn Saudi Landbridge rail project. The consortium will edge out three other bidders, assuming its submission complies with the technical requirements of the bid to link the kingdom's Gulf and Red Sea coasts, via Riyadh. Join discussion...