KARACHI, June 20: The Trading Corporation of Pakistan (TCP) has awarded another tender for import of 50,000 tons of urea against bids opened on June 17, 2011.

According to an official announcement, the TCP is presently importing urea to ensure sufficient availability of fertiliser for the Kharif 2011 demand and to meet the expected shortfall arising out of gas crisis in the country.

The TCP has purchased additional 50,000 tons at the lowest price of $544.73 per ton (c&f) quoted in the tender opened on June 17, 2011, and within the validity-period of the bid offered by the second lowest bidder, namely M/s Transammonia Ag agreed to match the lowest bidder as per government rules.

The two lots of 50,000 tons each will be imported through Karachi and Gwadar ports. The corporation is expected to establish the Letters of Credit this week to expedite the arrival of 100,000 tons of urea against the two contracts to ensure that fertiliser reaches ports during the first half of next month.

In addition to this, 50,000 tons of urea will be supplied by SABIC during the second half of next month under the Saudi Fund for Development facility.

This would mean that a total of 150,000 tons of imported urea will be added to the national inventors in July, 2011.