TCP awards tender for import of 300,000 tonnes of urea

RECORDER REPORT

KARACHI: Trading Corporation of Pakistan (TCP) has issued award letters to four bidders for import of 300,000 tons of urea for Rabi season.

Deals for import of 200,000 tons of urea were finalised on Monday, while remaining quantity of 100,000 tons was awarded on Tuesday to complete the tender quantity.

In response to urea import tender opened on August 27, 2012, TCP has decided to award contract to import of 300,000 tons of urea at lowest prices of $399.38 per ton cost and freight (C&F).

Some 12 bidders participated in the tender and the prices quoted in the tender ranged from $399.38 to $419.63 per ton (C&F). All bids were found responsive in terms of prescribed evaluation criteria. M/s. Key Trade AG Switzerland offered the lowest price of US$ 399.38 per ton for 100,000 tons. 

To complete the procurement of total targeted quantity of 300,000 tons, TCP invited other bidders to match the lowest bid, hence the import contracts for balance quantity were awarded to three other bidders namely M/s. Dreymoor Fertilizer Overseas (PTE) Ltd, Singapore for 100,000 tons, M/s. CHS Europe, Switzerland for 50,000 tons and M/s. Transammonia AG Switzerland, for 50,000 tons. These bidders quoted higher rates but later agreed to match the lowest bid price of $399.38 per ton C&F. TCP has issued the award letters to the successful bidders.