Himal Press 
KATHMANDU: China Banknote Printing and Minting Corporation (CBPMC) has been selected to print 430 million units of Rs 1,000 denomination banknotes, according to the Nepal Rastra Bank (NRB).
The central bank issued a ‘Letter of Intent’ to the Chinese company, which was the lowest bidder with a quoted price of $16.985 million, on Friday.
De La Rue International Limited of the United Kingdom, Giesecke + Devrient Currency Technology of Germany, Goznak of Russia, Oberthur Fiduciaire of France, and Polish Security Printing Works of Poland were the other companies shortlisted by the central bank.
The contract covers the design, printing, supply, and delivery of the notes along with related services.
According to the central bank, the Chinese company’s bid was found to be substantially responsive and met all technical and financial requirements after necessary corrections and evaluations.
China Banknote Printing and Minting Corporation is a state-owned enterprise under the People’s Bank of China and one of the world’s largest producers of banknotes and security documents.
Once the final contract is signed, the firm will be responsible for printing and delivering the Rs 1,000 notes to the central bank within the agreed timeframe.
