SPMCIL gets a new bank note paper line of 6,000 MT capacity

Two more paper lines with total capacity of 12,000 MT would also be set-up at Security Paper Mill, Hoshangabad in Madhya Pradesh.

The minister of finance, corporate affairs and information and broadcasting Arun Jaitley, recently inaugurated the new bank note paper line of 6,000 MT capacity and also flagged off the first consignment of

Rs 1,000/- bank note with the paper made indigenously in the august presence of Shivraj Singh Chouhan, chief minister, Madhya Pradesh and other dignitaries.

Speaking on the occasion, the finance minister Arun Jaitley said that the new Security Paper Mill in Hoshangabad 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. He further said that the mill would produce 6,000 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. The finance minister announced that two more paper lines of total capacity of 12,000 MT would also be set-up at Security Paper Mill, Hoshangabad.

The finance minister also said that another Security Paper Mill through JV Company has been established at Mysore in Karnataka. This would ensure huge savings on foreign exchange. He said Hoshangabad was chosen as the centre for producing paper for printing currency notes several decades ago by Morarji Desai, who was the then finance minister. However, it produced paper for printing of currency notes of smaller denominations only. 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. The finance minister also said that the ink used in printing of the bank notes is mostly produced within India.

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. No additional water has been taken for this plant from Narmada River. This is a state-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. Capable of manufacturing all denominations of bank note paper with capacity to introduce three-dimensional toned water mark, the new plant has state-of-the-art testing laboratory to the international standards for testing the paper before dispatch to the currency note printing 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.

The annual turnover from this new bank note paper line when it comes into full production stream of 6,000 MT capacity, will be about Rs 450 crores. The production of the bank note paper from this new paper line at Hoshangabad and from the joint venture paper mill at Mysore will reduce the import of bank note paper considerably. Commissioning of this project is part of Make-in-India – Indigenisation of currency and to become self-reliant in production of the raw materials requirement for the production of the bank notes.

Group Publications