Rail solutions provider Texmaco Rail & Engineering today said it has inked a non-exclusive pact with Israel's Lesico to explore opportunities in the upcoming Tel Aviv and Jerusalem Light Rail Transit (LRT) projects.
A business delegation of Texmaco Rail & Engineering Limited is visiting Israel along with a team led by Prime Minister Narendra Modi, Texmaco said in a BSE filing.
"During the visit, the company has entered into a non- exclusive MoU with Lesico Ltd, Israel, for active co-operation between the two organizations to identify potential scope of works and activities in respect of upcoming Tel Aviv and Jerusalem LRT projects (LRT) on a business case basis," it said.
The company said its expertise has been sought by Lesico for track related work for the said LRT projects.
"The overall budget for the projects has been estimated at more than USD 2 billion," the company said.
Shares of Texmaco closed at Rs 93.40 apiece on the BSE, up 6.08 per cent from the previous close.
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