New Delhi: Adventz Group on Tuesday said it has signed a $2 billion-plus agreement with Israel’s Lesico group to collaborate in light rail transit (LRT) projects in Tel Aviv and Jerusalem. “The MoU (memorandum of understanding) 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. More From Livemint »Texmaco’s role involves laying of tracks, installation of signalling, electrification, power sub-stations, and command, control and communication equipment, it added. Commenting on the development, Adventz Group chairman Saroj Kumar Poddar said, “The memorandum of understanding showcases Indian companies’ ability to not just serve the nation but also take their expertise elsewhere in the world.”Adventz Group is a $3 billion India-based conglomerate and comprises 26 companies. The group serves across sectors including fertilisers and chemicals, engineering and infrastructure, emerging lifestyles, and financial and management services.

Source: Mint July 04, 2017 16:30 UTC