Pakistan, March 19 -- The Security Papers Limited (SPL) has awarded a paper machine upgrade project worth Rs3.4 billion to a German firm Giesecke+Devrient (G+D) ahead the roll-out of Pakistan's new design banknotes.
"The estimated cost of the project is Rs3.4 billion, which includes an international tender worth Euro 8.297 million awarded to Giesecke+Devrient (G+D), Germany?" SPL said in a press statement.
"The upgrade is expected to be completed within 18 months."
The project is aimed at enhancing SPL's production capabilities - to meet the latest international trends and incorporate advanced security features for banknote paper to accommodate the evolving requirements of the State Bank of Pakistan (SBP) that has announced the launch of...