Crescent Steel expands order book with China Harbour Engineering

MG News | November 29, 2023 at 04:20 PM GMT+05:00

0:00

November 29, 2023 (MLN): Crescent Steel & Allied Products Limited (PSX: CSAP) has been awarded an additional quantity in its existing contract of 84” and 68” coated steel line pipes API 5L X42M PSL 2 with China Harbour Engineering Company Limited for manufacturing and coating of pipes.

The company disclosed this development to the local bourse today as price-sensitive information.

Through this revision, CSAP shall supply an additional quantity of 40,638 meters of coated steel line pipes for the K-IV project, the Greater Karachi Bulk Water Supply Scheme.

Consequently, the total order value has increased from Rs3.96 billion to Rs5.88bn.

Manufacturing is expected to commence in the third quarter of the current financial year and shall be completed, hopefully, by the second quarter of the next financial year.

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