CSAP received letter of intent from CHEC

MG News | October 07, 2022 at 04:33 PM GMT+05:00

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October 7, 2022 (MLN): Crescent Steel and Allied Products Limited (CSAP) has received a Letter of Intent (LOI) from China Harbour Engineering Company Limited (CHEC) to provide pipe coating for the K-IV project, the company’s stock filings on the stock exchange showed.

In a notice to the Pakistan Stock Exchange company stated, “CHEC company will provide pipe coating (bare pipes will be provided by the client) to CSAP having diameters of 68 and 84 inches for the K-IV project, the Karachi Bulk Water Supply scheme which is in addition to the previous quantity of manufacturing and coating of pipes”.

The expected value of this contract is Rs3.27 billion and the manufacturing is expected to commence in the second half of the current financial year and will be completed hopefully by the end of FY24, Company added.

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