Guarantee amount of two companies failing to bring fertilizers seized

Khabarhub

January 12, 2021

2 MIN READ

Guarantee amount of two companies failing to bring fertilizers seized

A woman sprays fertilizer in a field in Kanchanpur. (File photo/RSS) Image for Representation)

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KATHMANDU: Agricultural Materials Co. Ltd has been seized the guarantee amount of two Nepali companies, Shailung Enterprises and Muktinath Agricultural Company.

Spokesperson of the company Bishnu Pokharel informed that USD 796,000 was seized from the two companies for not bringing fertilizers as per the agreement.

“We have taken action against the company for not delivering the fertilizers on time as per the agreement,” he said. “The tender has also been re-opened.”

According to him, the agreement was reached so that Shailung should deliver the fertilizers by November 28 and Muktinath by November 4.

The company had held a global tender in 12 lots to bring 155,000 tons of fertilizers in the first four months.

Nepali company Shailung, Muktinath, Indian Potash Company (IPL) and Zen Trade Company won the tender.

Muktinath Company was contracted to bring 50,000 tons of urea fertilizers and 20,000 tons of DAP while Shilung was contracted to bring 55,000 tons of fertilizers.

Shailung had given a deposit of USD 425,000 , Muktinath had deposited USD 399,000 to for urea fertilizer and USD 397,000 for DAP.

Similarly, IPL had won a contract to import 10,000 tons of potash, 20,000 tons of DAP and 25,000 tons of DAP.

According to the contract agreement, only 55,000 tons of fertilizers from IPL and Zen Trade could be delivered, said Pokharel..

The bail amount of Shailung and Honiko Multiple Company was also seized in August after the fertilizers could not delivered on time.

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