ISLAMABAD: Crescent Steel and Allied Products Limited (CSAP) has entered into an agreement with the joint venture of China Harbour Engineering Company Limited (CHEC) and Al-Fajr International (AFI) to supply an increased quantity of coated pipes for the K-IV project, formally known as the Greater Karachi Bulk Water Supply Scheme.
In a notice to the Pakistan Stock Exchange (PSX) on Wednesday, Crescent Steel announced the revised contract, under which it will manufacture and supply an additional 65,000 meters of coated steel line pipes. The Hot Rolled Coils required for this production will be provided by the client.
This revision raises the total value of the contract from Rs5,886 million to Rs8,595 million, marking a significant boost for Crescent Steel. The company indicated that manufacturing is set to begin in the second quarter of the current financial year, with completion expected by the second quarter of the following financial year, though scheduling and other conditions are still being finalized.
The K-IV project, a major initiative to address Karachi’s chronic water shortage, is jointly developed by the provincial and federal governments. It aims to supply additional water to the city from Keenjhar Lake, located approximately 122 kilometers from Karachi.
Crescent Steel and Allied Products Limited, incorporated as a public limited company in Pakistan on August 1, 1983, operates across five segments: steel, cotton, investment and infrastructure development (IID), energy, and hadeed (billet).
