50,000 tons of urea: TCP awards contract to Trasfert

RECORDER REPORT

KARACHI: Trading Corporation of Pakistan (TCP) finalised a deal with M/s Trasfert FZCO, Dubai for the import of 50,000 tons of urea.

TCP had issued an international gallop tender for the import of 300,000 tons on December 28, 2011. The tender was opened on January 9, 2012 and some 14 bidders participated in the tender. Out of 14 bids some 11 bids were found responsive in terms of prescribed evaluation criteria with prices quoted in the tender, prices ranged from $417.50 per metric ton to $460.00 per metric ton (C&F).

The lowest bid was submitted by M/s Trasfert FZCO, Dubai for supply of 50,000 tons urea. After the evaluation of the bid, the TCP awarded import contract for a quantity of 50,000 tons of urea M/s Trasfert at $417.50 per ton (C&F).

However, to complete the procurement of total targeted quantity of 300,000 tons urea by TCP, the rest of the bidders have been asked to match the lowest bid price by today (Tuesday). As per tender terms and conditions, shipments of imported urea of this tender would start within one week after opening of letter of credit.

The TCP is engaged in the import of 1.2 million tons of urea for Rabi season and so far contract for the import of some 0.9 million has been finalised. This is the last tender, after which target of 1.2 million tons will be completed.