Crescent Steel and Allied Products Limited, a stalwart in Pakistan's industrial sector, has clinched an enhanced agreement with the joint venture comprising China Harbour Engineering Company Limited and Al-Fajr International. The augmentation pertains to the provision of an additional 65,000 meters of coated steel pipes, tailored specifically for the K-IV water project, also recognized as the Greater Karachi Bulk Water Supply Scheme.
This contractual extension underscores a pivotal enhancement in the project's scope, propelling the overall value from an initial PKR5,886 million to a formidable Rs8,595 million. This financial elevation not only cements Crescent Steel’s pivotal role in the venture but also accentuates the company’s robust manufacturing capabilities. The provision of the requisite Hot Rolled Coils, a critical component in the pipe manufacturing process, will be facilitated by the client, ensuring a streamlined production pipeline.
Crescent Steel has delineated its manufacturing timeline, which is set to commence in the second quarter of the ongoing financial year. The ambitious project is expected to reach completion by the second quarter of the subsequent financial year. However, this timeline remains contingent upon the finalization of certain scheduling and logistical parameters, which are currently under negotiation.
The K-IV project stands as a monumental effort to mitigate Karachi’s perennial water shortages. Jointly spearheaded by the provincial and federal governments, this initiative aims to channel additional water supplies to Karachi from Keenjhar Lake, situated approximately 122 kilometers from the metropolis. The project's successful execution is expected to significantly alleviate the chronic water scarcity plaguing the city, thereby improving the quality of life for its burgeoning population.
Crescent Steel and Allied Products Limited, established as a public limited entity in Pakistan on August 1, 1983, has diversified its operations across five primary sectors: steel, cotton, investment and infrastructure development (IID), energy, and hadeed (billet). This multifaceted approach has enabled the company to establish a formidable presence in the nation’s industrial landscape, contributing to its sustained growth and resilience.
