Nepal Rastra Bank to Award 50-Rupee Banknote Printing Contract to Chinese Corporation

Kathmandu : The Nepal Rastra Bank (NRB), the central bank of Nepal, has issued a Letter of Intent to Award the Contract for the procurement of 420 million pieces of Nepalese Rupees 50 denomination banknotes to M/S China Banknote Printing and Minting Corporation.

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The notice, addressed to the Beijing-based corporation, indicates the central bank's intention to award the contract for the "Designing, Printing, Supply and Delivery of 420 Million Pieces of Nepalese Rupees 50 Denomination Banknotes and Related Services" (IFB No. NRB/CMD/ICB/G-01/082/83).

M/S China Banknote Printing and Minting Corporation was selected as the substantially responsive lowest evaluated bidder with a quoted price of USD 10,422,535.21 (United States Dollars Ten million Four Hundred Twenty-two Thousand Five Hundred Thirty-five and Twenty-one Cents).

The issuance of the Letter of Intent marks a crucial step in the procurement process, signifying the NRB's decision to entrust the Chinese firm with the significant task of printing the new circulation banknotes. This contract is part of the central bank's ongoing efforts to manage the supply of currency notes in the country. The final contract execution is expected to follow the conclusion of the necessary administrative and contractual procedures.