Domestic banknote paper line in Madhya Pradesh
Domestic banknote paper line in Madhya PradeshBhopal, Jun 2 (KNN) The Minister of Finance, Corporate Affairs and Information and Broadcasting Arun Jaitley on Saturday inaugurated the new banknote paper line of 6000 MT capacity at Security Paper Mill, Hoshangabad.
On the occasion, Jaitley said the new security paper mill will give India indigenously produced currency note paper and will prove to be a major step towards Prime Minister Narendra Modi’s ‘Make in India’ initiative.
“The mill would produce 6000 MT paper on which currency notes of denominations Rs 10, Rs 20, Rs 50, Rs 100, Rs 500 and Rs 1000 will be printed. Earlier, the paper to print high denomination currency was imported,” he said.
The Finance Minister also announced that two more paper lines of total capacity of 12,000 MT will be set-up at Security Paper Mill, Hoshangabad. He also said that a New Security Paper Mill through JV Company has been established at Mysore in Karnataka.
Citing that the initiative will ensure huge savings on foreign exchange, Jaitley expressed happiness that beginning of the government's flagship programme 'Make In India' is being made in Madhya Pradesh, a state which has ceased to be a sick state following various initiatives taken by Chief Minister, Madhya Pradesh, Shivraj Singh Chouhan recently.
“With the development of the new facilities at Hoshangabad and also at Mysore, it will be possible to produce Currency Printing Paper in adequate quantity to meet the needs of the nation,” he said.
The Finance Minister also said that the Ink used in printing of the Bank Notes is mostly produced within India.
The foundation stone for this New Bank Note Paper Line was laid on December 17, 2011 by the then Finance Minister, Pranab Mukherjee. The project has been completed at a cost of Rs 495 crore within the budget and within the time schedule. This plant is environment friendly with minimal use of the power and water. It is a start-of-the-art plant with capability for incorporation of the advanced security features into the Bank Note paper.
This plant has been incorporated with the latest pulp manufacturing plant, control systems, equipped with automatic sheet cutter and packaging and has online inspection system. It is capable of manufacturing all denominations of Bank Note paper with capacity to introduce 3-dimentional toned water mark.
The new plant has state of the art paper testing laboratory to the international standards for testing of the Bank Note Paper before dispatch to the Currency Note Presses. This New Paper Line is environment friendly aiming for zero liquid discharge. The latest surveillance system SAP-ERP and with state-of-the-art fire and safety system has been installed. This plant has a latest Mould Cover manufacturing facility for manufacture of the Bank Note paper with latest designs. (KNN/ST)