TCP awards urea contract for 215,000 MT at $538 per ton
KARACHI: Trading Corporation of Pakistan (TCP) has awarded the contract for the supply of 215,000 metric tons (MTs) of Urea at $538 per metric ton C&F, to four different lowest bidders.
According to the TCP, the contracts were awarded late Friday night in response to its international gallop tender notice published on October 21.
The representative of the Transparency International Pakistan (TIP) witnessed the proceedings of the Tender Award Committee on special invitation.
In all, ten responsive bidders participated in the tender on October 28, and quoted prices ranged from $538 to $559 PMT (C&F).
M/s. SABIC offered the lowest price of $ 538 PMT for 50,000 MTs only, conforming to the technical specifications and evaluation criteria given in the tender document. Their offer was accepted.
Three more bidders, who had offered bids higher than the lowest also agreed to match the lowest price of $ 538 PMT, for the quantities offered by them.
They are M/s. Liven Agrichem PTE Singapore (50,000 MTs), M/s. Gavilion Fertilizers LLC Dubai (45,000 MTs) and M/s. Incitec Pivot Ltd., Australia (70,000 MTs). Award letters were issued to them as well.
The bids received on Friday are valid till Monday 31st October, 2011. Further offers for price matching from the bidders of today's tender will be considered provided they are received within the bid validity period.
To ensure early procurement of the total quantity of 700,000 MTs of urea exacerbated by its domestic shortage, the Federal Government has given special permission for matching the lowest price by the bidders other than the lowest bidder.
As per tender terms and conditions, urea shipments would start within one week after opening of L/C and TCP expects completion of the shipments by end November 2011.
Transportation of the imported cargo from the port and its marketing will be handled by M/s. National Fertilizer Marketing Limited (NFML), as per past practice.
Copyright APP (Associated Press of Pakistan), 2011
Comments
Comments are closed for this article.