Trading Corporation of Pakistan (TCP), in response to its international Gallop tender notice published on October 21, 2011, issued award letters for a total of 2,15,000 metric tons (MTs) of urea at the rate of US $538 per metric ton (PMT) C&F, on the lowest bid basis, to four different bidders.
In all, ten responsive bidders participated in the tender and quoted prices ranged from US $538 to US $559.00 PMT (C&F). M/s. SABIC offered the lowest price of US $538 PMT for 50,000 MTs only, conforming to the technical specifications and evaluation criteria given in the tender document. Their offer was accepted.
Three more bidders, who had offered bids higher than the lowest also agreed to match the lowest price of U$538 PMT, for the quantities offered by them. They are M/s. Liven Agrichem PTE Singapore (50,000 MTs), M/s. Gavilion Fertilisers LLC Dubai (45,000 MTs) and M/s. Incitec Pivot Ltd, Australia (70,000 MTs). Award letters were issued to them as well.
The bids received Friday are valid till Monday October 31, 2011. Further offers for price matching from the bidders of Friday's tender will be considered provided they are received within the bid validity period. In order to ensure early procurement of the total quantity of 700,000 MTs of Urea exacerbated by its domestic shortage, the Federal Government has given special permission for matching the lowest price by the bidders other than the lowest bidder. As per tender terms and conditions, Urea shipments would start within one week after opening of L/C and TCP expects completion of the shipments by end November 2011.-PR