Adventz Group has signed a $2-billion-plus memorandum of understanding with Israel’s lesico group to collaborate in the light rail transit (lRT) projects in Tel Aviv and Jerusalem.
“The MoU showcases Indian companies’ ability to not just serve the nation but also take their expertise elsewhere in the world,” Adventz Group Chairman Saroj Kumar Poddar.
“The success of the Tel Aviv Metropolitan Area Mass-Transit System will lie in as much as it will touch every citizen’s daily life. The TEXMACO-lesico collaboration goes beyond our joint capabilities; we are building for our future. The partnership will prove to be a catalyst in furthering business ties with India,” lesico Group Co-founder & Chairman Mr. Jechiel leshman.
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 New Delhi and Tel Aviv.
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 exeprtise 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 & communication equipment.