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Steel Authority of India Ltd
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Five Integrated Steel Plants (ISPs),
Three Special Steel Plants,
One Ferro Alloy Unit,
Refrectory Units and One Subsidiary spreadover Seven states of India
Extensive marketing network spread all overIndia with 37 Branches, 67 Warehouses, 27
Customer Contact Offices and over 3500 Dealersand Rural Dealers covering all Districts of India.
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SAIL has its own R&D centre & Management Training Institute at
Ranchi with state of art facilities.
Centre for Engineering & Technology provides technical solutions for
projects and design engineering.SAIL has 103 thousand employees on its rolls as on 31.12.2012
Product quality is established in the international market - Exports to
around 20 countries including EU, Middle East, SE Asian & neighbouring
countries
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Authorized Capital: INR 5,000 crore (US$ 909
million),
Paid up capital: US$ 751 million (INR
4,131 crore
85.82% of shares owned by Government
Market capitalisation of Rs. 39,653 crore (US$
7.2 billion).
SAIL was awarded the Navratna Status in 1997
and was upgraded as Maharatna in 2010.
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VISION
To be a respected world class
corporation and the leader in Indian
steel business in quality, productivity,
profitability and customer
satisfaction.
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IMPORT
PROCEDURE IN STEEL AUTHORITY
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Objective of project
To know the various procedure in importing coal
And payment in foreign exchange.
DATA COLLECTED
As the data collected from secoundary sourses..
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In exercise of the powers conferred by theForeign Trade (Development & Regulation )Act,1992, the Government has issued thefollowing Rules & Orders:
(i)Foreign Trade (Development & Regulation )Act,1993,
(ii)Foreign Trade(Exemption from Application ofrules in Certain Cases) Order 1993;
(iii)Notifications under Foreign Trade (Development& Regulation) Act,1992.
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Import Trade Organization
Ministry of Commerce
Ministry of Commerce is the overall incharge of foreigntrade in India.
Director General of Foreign Trade
The office of Director General of Foreign Trade (DGFT)is responsible for the execution of the Import- Export
Policy of the Government of India. It has subordinateoffices primarily responsible for issue of Import ExportCode numbers, grant of ImportExport License ofvarious types
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Custom Authorities
Customs clearance of the imported goods isdone by the customs authorities
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IMPORT PROCEDURE
Selecting the Commodity
Proper selection of the commodity will
depend upon various commercial and legal
considerations
Selecting the Overseas Supplier
Imports can be made from any country of the
world except Iraq.
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Credit worthiness of the Overseas Supplier
The credit worthiness of the overseas supplier, hiscapacity to fulfill that contract etc. should therefore, beproperly verified before entering into a contract withhim
Finalising terms of Import
Modes of Settlement Payment
Advance PaymentPayment/Acceptance against documentary collection
Payment under Letter of Credit
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Procedures undertaken in SAIL for Importing Coal
Coking coal is required for manufacture of coke inthe coke-ovens in the manufacture of steelmaking by integrated steel plants. Coke is chargedin the Blast Furnaces in the process of hot metal
production. SAIL has a total requirement of approx. 15 million
tonnes of coking coal. Out of this, approx. 10million tonnes of coking coal is required to be
imported and the balance is tied up withindigenous sources, the major suppliers beingBCCL and CIL
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Long Term Agreements :The requirement of
imported coking coal is met largely through
long term agreements
SAIL imports coking coal under Long Term
Agreements with suppliers from Australia,
U.S.A and New Zealand A now source of Soft
coking coal is Indonesia
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Global Tender: Global tenders are invited to
meet the balance requirement of imported
coking coal and orders are finalized after a
careful tech no-commercial evaluation ofthe offers the conformity of offers to tender
terms and conditions and on the basis of price
offered
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SHIPMENT PLANS AND LEAD TIME
Voyage time-The average time taken for ashipment to reach Indian ports of discharge fromvarious loadports varies with the distance asshown below :
Australia (East Coast): 18 days New Zealand: 20 days
U S.A : 30 days
Indonesia :10 days China :14days
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Ports of loading
Exporting Countries
AUSTRALIA
UNITED STAES OF AMERICA NEW ZEALAND
CHINA
INDONESIA
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Discharge Ports
All shipments of coking coal for SAIL are
discharged at one or more of the three major
ports on the East coast of India,
Visakhapatnam,
Paradip
Haldia
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RATES ON THE PRICE OF IMPORTED COKING COAL
Payment for ail imports of coking coal are
made in US Dollars. since the price of coal in
the international market is quoted in US
Dollars.
The fluctuations in the US Dollar - Indian
Rupee exchange rate affect the total outflow
towards payment to suppliers.
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Financesare usually made through the Letter
of Credit from State Bank of India, Canara
Bank etc.
In certain cases Open Payment Methods are
also used wherein the payment is made when
the material is received through e-banking
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Thank you