Adventz Group signs USD 2 bn pact with Israeli firm

Adventz Group today said it has signed a USD 2-billion-plus agreement with Israel's Lesico group to collaborate in light rail transit (LRT) projects in Tel Aviv and Jerusalem.

"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," the company said in a statement.

Texmaco's role involves laying of tracks, installation of signaling, electrification, power sub-stations, and command, control & communication equipment, it added.

Commenting on the development, Adventz Group Chairman Saroj Kumar Poddar said, "The Memorandum of Understanding (MoU) showcases Indian companies ability to not just serve the nation but also take their expertise elsewhere in the world."

Adventz Group, is a USD 3-billion India-based conglomerate and comprises 26 companies.

The Group serves across sectors including fertilisers and chemicals, engineering & infrastructure, emerging lifestyles, and financial & management services.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)