Adventz Group inks $2 bn MoU with Israel's Lesico

Texmaco Rail & Engineering has entered into a non-exclusive Memorandum of Understanding (MoU) with Lesico, Israel for active co-operation between the two organizations to identify potential scope of works and activities in respect of upcoming Tele-Aviv and Jerusalem Light Rail Transit projects (LRT) on a business case basis.

The announcement came yesterday in the backdrop of a top-level Indian political and business delegation led by Prime Minister Narendra Modi touring the nation now.

The MoU between Lesico and Adventz Group, under which the latter's group company Texmaco Rail & Engineering Ltd will lend its expertise in building the Tel Aviv Metropolitan Area Mass-Transit System, will be a first for an Indian conglomerate. TEXMACO's role involves laying of tracks, installation of signaling, electrification, power sub-stations, and, command, control and communication equipment.

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"The Texmaco-Lesico partnership is a milestone and has widespread ramifications for the future".

Adventz Group consisting of 26 companies, is a $3 billion India-based group, which is a major producer of a comprehensive range of high-quality specialty fertilisers and agricultural inputs. We thank Honourable Prime Minister Narendra Modi's thrust in showcasing the ability of Indian companies on the global stage. As per the MoU, TEXMACO's expertise is being sought in track-related works for the Tel-Aviv Red-Line and Jerusalem Green-Line LRT projects. The Tel-Aviv red line is the first section of Light rail system in Tel Aviv, Israel's second-largest city.

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