Trading Corporation of Pakistan (TCP) has awarded import contracts for 440,000 metric tons of urea at $ 540.75 per metric ton C&F, on the lowest bid basis, to four different responsive bidders.
According to TCP here Friday, 13 responsive bidders had participated in the international tender, floated on November 1, 2011, and quoted prices ranging from $ 540.75 to $ 578 PMT (C&F) in the bidding held on Thursday.
M/s. Dreymoor Fertilizers Overseas Pte. Ltd., offered the lowest price of $ 540.75 PMT C&F initially for 50,000 MT.
However, they agreed to increase the quantity upto 100,000 MT at the same price. As the offer conformed to all technical specifications and evaluation criteria given in the tender document, the bidder was awarded contract for import of 100,000 MT urea.
Three more bidders M/s. Keytrade AG Switzerland, M/s. Transmonia, Switzerland and M/s. Incitec Pvt Ltd., Australia who had quoted higher rates also agreed to match the lowest price of $ 540.75 PMT C&F for supply of 150,000 MT, 100,000 MT, and 90,000 MT respectively. Hence, the contracts for the agreed quantities were awarded to them, as well.
A representative of M/s. Transparency International Pvt. Ltd. (TIP) also attended the tender award meeting.
With the above purchases, TCP has achieved the target of import of 700,000 MT urea, for the Rabi 2011-12, assigned by the government.
As per tender terms and conditions, shipments of imported urea of this tender would start within one week after opening of L/C. TCP expects completion of the shipments against the tender awarded on 10-11-2011 by mid December, 2011.
