Indian conglomerate Adventz Group’s TEXMACO has signed an over $2-billion MoU with Israel’s Lesico group to collaborate in the light rail transit (LRT) projects in Tel Aviv and Jerusalem.
The announcement came on Tuesday in the backdrop of a top-level Indian political and business delegation led by Prime Minister Narendra Modi touring the nation currently. The historic visit — first time for any Indian PM — is being seen as a watermark in deepening economic and trade relationships between the two countries.
The memorandum of understanding between Lesico with Adventz Group will be a first for an Indian conglomerate with Group company Texmaco Rail and Engineering, which will lend its technical know-how and expertise in building the Tel Aviv Metropolitan Area Mass-Transit System. TEXMACO’s role involves laying of tracks, installation of signaling, electrification, power sub-stations, and, command, control and communication equipment.
Published 05 July 2017, 19:25 IST