In a significant move towards modernization and enhanced security in banknote paper production, Security Papers Limited (SPL) has announced the approval of an upgradation project for its paper manufacturing plant. The resolution for this strategic initiative was passed at the 9th Reconvened Extraordinary General Meeting (EOGM) held on March 1, 2025.
Approval for Upgradation Project
The shareholders of SEPL have concurred with and approved the decision made by the Board of Directors on January 22, 2025. The primary objective of this upgradation is to align the plant with the latest international standards and incorporate advanced security features required for the upcoming banknote series announced by the State Bank of Pakistan.
Project Scope and Investment
The plant, originally installed in 2004, will undergo a comprehensive modernization process to meet evolving security requirements. The total estimated cost of the upgradation project stands at Rs 3.4 billion, which includes an international tender worth Euro 8.297 million awarded to Giesecke + Devrient (G+D), Germany, a globally recognized leader in security printing solutions.
Completion Timeline
The project is expected to be completed within 18 months, ensuring the companys ability to produce high-quality security-featured banknote paper, keeping pace with global technological advancements in currency production.
With this strategic enhancement, Security Papers Limited is set to play a crucial role in strengthening Pakistans banknote security and aligning with international best practices in currency paper manufacturing.
