Adventz Group's Texmaco signs $2-bn MoU for Israel light rail

Becomes first Indian firm to participate in Tel Aviv's mass-transit projects

Indian conglomerate Adventz Group 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 on Tuesday against the backdrop of Prime Minister Narendra Modi’s three-day visit of Israel. 

The historic visit – the first by an Indian prime minister – is seen as a watermark in deepening economic and trade relationships between New Delhi and Tel Aviv. 

The MoU between Lesico and Adventz Group, under which the latter’s group company Texmaco Rail & Engineering Ltd will lend its exeprtise in building