A business delegation of Texmaco Rail & Engineering Limited is visiting Israel along with a team led by Prime Minister Narendra Modi, Texmaco said in a BSE filing.
"During the visit, the company has entered into a non- exclusive MoU with Lesico Ltd, Israel, for active co-operation between the two organizations to identify potential scope of works and activities in respect of upcoming Tel Aviv and Jerusalem LRT projects (LRT) on a business case basis," it said.
"The overall budget for the projects has been estimated at more than USD 2 billion," the company said.
Shares of Texmaco closed at Rs 93.40 apiece on the BSE, up 6.08 per cent from the previous close.
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