Trading Corporation of Pakistan (TCP) has awarded contracts for the supply of 250,000 metric tons of imported urea at $ 431.45 per metric ton (PMT) C&F, to four bidders on the lowest bid price basis.

According to TCP, 13 bidders had participated in the tender which was floated on January 11, 2012. The quoted prices ranged from $ 431.45 to $ 448.14 per metric ton (C&F).

Eleven (11) bids were found responsive in terms of prescribed evaluation criteria. M/s. CHS Europe offered the lowest price of $ 431.45 PMT C&F for 50,000 MT which was accepted and the contract was awarded to them accordingly.

To complete the procurement of total targeted quantity of 250,000 MT urea the import contracts for balance quantity were awarded to three other bidders, who had quoted higher rates but agreed to match the lowest bid price of $ 431.45 PMT C&F.

They are M/s. Dreymoor Fertilizer Pte Ltd. Singapore, for 100,000 MT, M/s. Incitec Pivot Ltd. Australia and M/s. Global Energy and Commodity Exchange, Italy for 50,000 MT, each.

Permission to seek matching of the lowest price had been provided by the competent authority with a view to ensuring earliest arrival of imported urea in the country to cater for Rabi-2011-12.