Note Printing Australia on the money in Nepal

Press release by the The Hon. Mark Vaile, MP, Minister for Trade, Australia

24.05.02

Note Printing Australia (NPA) has won a $A3 million contract to produce polymer banknotes for Nepal, Trade Minister Mark Vaile announced today.

Mr Vaile said that the Nepalese Reserve Bank had awarded its tender, worth over $A3 million, to NPA to provide Nepal with 50 million polymer 10 Rupee banknotes.

“NPA won the Nepalese contract on the basis of the company’s world-leading technology and competitive pricing,” Mr Vaile said.

“The Nepalese contract will play a vital role in helping NPA secure future polymer banknote contracts in the region.”

Note Printing Australia developed polymer technology in partnership with the CSIRO.  The Reserve Bank of Australia first issued polymer bank notes in 1988, setting a new world standard in banknote technology. 

Polymer bank notes, currently used in over 15 countries, offer superior security, machine processability, cost effectiveness and recyclability.

“The new 10 Rupee note, Nepals most commonly-used banknote, is expected to be in circulation later this year,” Mr Vaile said.