India-based conglomerate Adventz Group on Tuesday said it has signed a $2 billion plus memorandum of understanding (MoU) with Israel's Lesico Group to collaborate in the light rail transit (LRT) projects in Tel Aviv and Jerusalem.
The announcement came against the backdrop of a top-level Indian political and business delegation led by Prime Minister Narendra Modi visiting Israel.
"The MoU between Lesico with Adventz Group will be a first for an Indian conglomerate with Group company Texmaco Rail & Engineering Limited, which will lend its expertise in building the Tel Aviv Metropolitan Area Mass-Transit System," the company said in a statement.
"Texmaco's role involves laying of tracks, installation of signaling, electrification, power sub-stations, and, command, control and communication equipment."
--IANS
rv/vt
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app