TCP finalises deals on urea import

Following the directives of the Economic Co-ordination Committee (ECC) of the Cabinet, the state-run grain trader has finalised deals for the import of 50,000 tons of urea to avoid its shortage in the domestic market. Sources told Business Recorder on Friday that the Trading Corporation of Pakistan (TCP) has procured this quantity through first tender issued earlier this month and opened on May 29, 2015 to ensure sufficient urea supply during the ongoing crop season.
The TCP conducted the first urea import tender on Friday for procurement of 50,000 tons of urea and the tender was awarded to the first lowest bidder. In response to TCP's urea import tender, some 10 international suppliers participated in the tender and quoted prices ranging from $318.63 per ton to $338.37 per ton. Out of 10 participants, some three bids were non-responsive.
The lowest price was offered by M/s Dreymoore, which quoted a price of $318.63 per ton for 50,000 tons of urea while the second lowest bid was received from M/s Samsung, which offered the same quantity at $319.92 per ton. M/s Key Trade stood third and agreed to supply 50,000 tons of urea at $332.50 per ton, however its bid was non-responsive as it violated the clause 10 of the tender document. Highest rate $338.378 per ton was offered by M/s CHS. Other two non-responsive suppliers were M/s Trammo and M/s Aries Fertilizer as both bidders didn't quote the rate.
The TCP bid evaluation committee after detailed analysis declared the first lowest bid responsive as it was meeting all the terms and conditions of the tender. Accordingly, the state-run grain trader accepted the offer of first lowest bid and issued a contract award letter in favour of M/s Kalmer Link local agents of M/s Dreymoore for the import of 50,000 tons of urea at $318.63 per ton C&F. The supplier has been asked to ensure shipment latest by June 23, 2015. Following the ECC directives, the TCP in the first week of May issued multiple tenders for the import of 100,000 tons of urea. Another tender for the import of some 50,000 tons of urea will be opened on Monday.