In order to complete the procurement of total targeted quantity of 250,000 tons 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 per ton. - File photo

KARACHI: The Trading Corporation of Pakistan awarded import contracts for 250,000 tons urea at $431.45 per ton (c&f) to four different responsive bidders on the lowest bid price basis on Friday.

A press release issued by the corporation stated that in response to TCP’s international gallop tender floated on January 11, 2012, thirteen bidders participated in the tender and quoted prices ranging from $431.45 to $448.14 per ton (c&f). Eleven bids were found responsive in terms of the prescribed evaluation criteria.

M/s CHS Europe offered the lowest price of $431.45 for 50,000 tons which was accepted and the contract was awarded to them accordingly.

In order to complete the procurement of total targeted quantity of 250,000 tons 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 per ton.

These bidders included M/s Dreymoor Fertiliser Pvt Ltd, Singapore, for 100,000 tons, M/s Incitec Pvt Ltd Australia and M/s Globle Energy and Commodity Exchange, Italy for 50,000 tons 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 the Rabi 2011-12.