KARACHI, May 21: The Trading Corporation of Pakistan (TCP) on Monday awarded import contract for 100,000 metric tons of urea to the lowest bidder.

The lowest bid of $522.86 per ton (c&f) was offered by Gavilon Fertilizer LLC of USA.

A total of 14 bids were received by the TCP against its international tender notice of April 18 for import of urea.

The prices quoted in the tender ranged from $522.86 per ton to $549.00 per ton (c&f). As offer conformed to all technical specifications and was the lowest, the contract was awarded to the lowest bidder for a total quantity of 100,000 tons.

The corporation is importing urea in pursuance of the directive of ECC of the cabinet to avert any shortage and ensure smooth availability of urea fertilizer to farmers in the current Kharif 2012.The shipments of urea procured against the tender would start soon after opening the L/Cs, official sources said.