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Serco consortium wins Saudi rail contract

LONDON, Feb 23 (Reuters) - Serco said on Monday a consortium led by the British outsourcer had signed a contract with the Saudi Railway Company to provide management and technical support.

The deal, worth around 120 million pounds ($185 million) to Serco over five years, is the firm's first major rail contract in the country. It sent its shares up an initial 2 percent. ($1 = 0.6500 pounds) (Reporting by Kate Holton, Editing by Paul Sandle)