Kuwait company among bidders to supply oil to Zambia

Trafigura Beheer BV, Glencore International PLC GLNCY +1.85% , and International Petroleum Group of Kuwait are among 50 foreign companies bidding to supply Zambia with petroleum products and crude oil, according to Zambian Public Procurement Authority Friday.

Zambia has sought expressions of interest to supply 1.4 million metric tons of commingled feedstock, 216 million litres of diesel and 21 million liters of unleaded petroleum for use in the copper-rich nation.

The bidding process closed Friday and successful bidders will be announced by April 24.

According to a bid documents seen by Dow Jones Newswires in Lusaka Friday, successful bidders are expected to deliver the first consignments of feedstock and finished petroleum products through the port of Dar es Salam to Zambia at least within a minimum 90 days and complete the deliveries in 120 days.

“We have received an overwhelming response from foreign companies and we are moving expeditiously to ensure that the commodities reach our intended destinations in time,” said Zambia Public Procurement Authority board secretary Justin Matimuna by phone Friday.

All companies paid $2 million as bid guarantee with their respective banks acting as guarantors for the supply of the products

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