NASHIK: A central committee visited Nashik on Tuesday to check the feasibility of setting up a bank note paper manufacturing unit that will see an investment of Rs 700 crore.
The committee comprising S P Verma, general manager ofCurrency Note Press (CNP) Nashik and Security Paper Mill Hoshangabad visited three sites, which can be used to set up the proposed manufacturing unit. Local MP Hemant Godse also accompanied the committee during the survey at the land owned by the CNP and the India Security Press (ISP).
“The CNP and ISP own the land and hence, the government need not spend on land acquisition. Around 47 acres are available at Gorewadi, 33 acres in front of Central Industrial Security Force (CISF) Nehru Nagar and 100 acres are available behind Nehru Nagar,” said Godse.
He added, “The committee will submit a feasibility report to the finance ministry and then the detailed project report will be prepared. The government needs 30 acres to set up the unit. Apart from the land, there are around 3,000 quarters lying vacant and can be used by the employees of the proposed unit. Hence, it is physically and financially feasible to set up manufacturing unit here.”
The CNP and ISP facilities are spread over 350 acres in Nashik. Over 250 acres of CNP-ISP are lying idle and can be used to set up the proposed unit. Apart from land cost, it will also save the transportation cost as the CNP is also in Nashik. This will reduce the production cost as the bank note paper manufactured here will be used at the CNP and ISP.