KARACHI: Crescent Steel and Allied Products Limited is negotiating with China Harbour Engineering Company Limited for the manufacturing and coating of pipes, having diameters of 68 and 84 inches for the K-IV project, the Greater Karachi Bulk Water Supply Scheme.

The value of the contract is expected to be around Rs 3.8 billion, material information sent to Pakistan Stock Exchange on Monday said.

Subject to the execution of the contract, the manufacturing is expected to commence in the second quarter of the current financial year and is expected to be completed in the first quarter of the next financial year, it added.

Copyright Business Recorder, 2022