TCP awards another supply contract for 45,000 MT urea

KARACHI : Trading Corporation of Pakistan (TCP) has awarded another contract for import of 45,000 metric tons of urea to

Published October 31, 2011 Updated October 31, 2011 04:04pm

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By Imad Uddin

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According to the TCP here Monday, the tender for a total quantity of 260,000 MT of urea was opened on 28-10-2011, and 215,000 MT was awarded to four parties, leaving a balance quantity of 45,000 MT.

The bidder (M/s Helm Dungmittel of Switzerland) had initially quoted higher price in the tender but subsequently agreed, within the validity period, to match the lowest price of $ 538 per MT and supply the offered quantity of 45,000 MT at that rate.

In view of the urgency of import of urea for Rabi 2011-12, the federal government has allowed special permission for matching the lowest bid received against the tender.

With purchase of above additional quantity, the total import of urea against the tender opened on 28-10-2011 is worked out to be 260,000 MT.

Fresh tender for import of the balance quantity of 440,000 MT has also been issued, with November 10, 2011 as the date for opening of bids, TCP said.

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