KARACHI, July 13: The Trading Corporation of Pakistan (TCP) on Friday awarded urea import contract of 50,000 tons to the lowest bidder M/s CHS Europe at $426.39 per ton.

The tender was floated on June 26, and opened on July 12, 2012.

In all, 13 bids were received. The prices quoted in the tender ranged from $426.39 to $478.28 per ton (c&f), a press release said.

The evaluation committee of the TCP found all the bids responsive in terms of prescribed evaluation criteria.

However, M/s CHS offered the lowest price of $426.39 c&f for 50,000 tons conforming to technical specifications and terms of the tender.

Keeping in view the competitiveness and consonance of the price vis-à-vis the international prices of urea, the offer was accepted and the contract was awarded to the lowest bidder, accordingly.

With the award of this tender, the quantity so far contracted by TCP as against the total target of 300,000 tons.