Odisha: Bank note paper mill with Rs 2,500 crore investment likely in Balasore

The Chief Minister Naveen Patnaik's Office says the company is planning to invest Rs 2,500 crore for setting up of the bank note paper mill in Balasore district. The CM assured the company officials of all support from the state government.

Bhubaneswar: Bank Note Paper Mill India, a joint venture entity between Security Printing and Minting Corporation of India Ltd and Bharatiya Reserve Bank Note Mudran Pvt Ltd, is planning to set up a manufacturing facility in Odisha's Balasore district, an official statement said on Wednesday.

The proposed bank note paper mill is likely to be built at an investment of Rs 2,500 crore, it said. During the day, BNPM India Managing Director Thalikerappa S met Chief Minister Naveen Patnaik at his residence here and apprised him of the project, the CMO said in the statement.

"MD of Bank Note Paper Mill India, Shri Thalikerappa S met CM @Naveen_Odisha and briefed about their project at #Baleswar. The company is planning to invest ₹2500 Cr for setting up a bank note paper mill in the district and CM assured all support for the project," the Chief Minister's Office said tweeting pictures from the meeting.

Earlier on Tuesday, 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 tonne per annum. (with Agency inputs)