The Sui Northern Gas Pipelines Limited (SNGPL) has awarded Rs 2.537 billion contracts to Crescent Steel and Allied Products Limited for the supply of bare pipes. The monetary value of the SNGPL's orders, the steel producer in a stock filing Monday said, is higher than the ones the company has executed in last three years combined along with the orders in hand.
Under the deal the steel manufacturer would be supplying the gas supplier with 16 and 42 inches bare pipes. "These contracts will be executed during the financial year ending on 30 June 2016," Crescent Steel Company Secretary Muhammad Saad Thaniana told his shareholders at the country's three stock exchanges in Karachi, Lahore and Islamabad. "We consider this as significant because the value of these orders, along with orders in hands, is higher than the orders executed in last three years combined," the company official added.
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