This was announced in an official statement on 13 July.

BNPM India is a joint venture of the Bharatiya Reserve Bank Note Mudran (BRBNMPL), a wholly-owned subsidiary of the Reserve Bank of India (RBI), and the Security Printing and Minting Corporation of India (SPMCIL), a wholly-owned Central public sector undertaking.

The proposed bank note paper mill is likely to be built at an investment of Rs 2,500-crore.

According to the statement, Thalikerappa S, managing director, BNPM India met Odisa chief minister Naveen Patnaik at his residence and apprised him of the project. The chief minister assured the company officials of all support from the state government. 

Earlier on July 12, a delegation of RBI visited Balasore district to take stock of the situation at the ground level for setting up the bank note paper mill at Padabadagaon village on the outskirts of Balasore town.

Around 100 acres of land will be acquired to set up the paper mill, official sources said. 

BNPM India is engaged in production of bank note papers and has its manufacturing facility in Karnataka’s Mysuru with a total capacity of 12,000 metric tonnes per annum.

(Source: Agencies)