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Central panel checks land to set up new printing unit

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.

The CNP and ISP are the units of the Security Printing & Minting Corporation of India Ltd (SMPCL). The revenue stamps, stamp papers, passport, VISA are printed at the ISP, while banking notes are printed at the CNP. There are 3,000 employees in ISP and 2,500 employees in CNP.
The RBI has projected requirement of 48,000 metric tonnes of bank note papers by 2024-25 to meet the demand at that time. At present, new bank note paper manufacturing line with capacity of 6,000 MT per year has been made operational at Hoshangabad, while another two new lines to manufacture bank note paper with capacity of 12,000 metric have been commissioned at Mysore under the company name Bank Note Paper Mill Pvt Ltd, which is the Joint Venture between BRBNMPL and SPMCIL. Two new manufacturing lines for bank note papers with capacity of 12,000 metric tonnes have been proposed in Hoshangabad.
In July, union minister of the state for finance Arjun Meghwal had sent a letter to Godse, which stated that the matter had been examined in consultation with the Security Printing and Minting Corporation of India Ltd (SMPCIL) and Bharatiya Reserve Bank Note Mudran (P) Ltd (BRBNMPL). The letter also stated that the government would consider and evaluate the feasibility of setting up of the two more lines at Nashik.

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