Egypt’s new banknote facility to be built by G&D
German firm awarded over $300 million for successful tender
The Central Bank of Egypt has teamed up with banknote printer Giesecke and Devrient (G&D) to plan and build a new banknote plant which will print and process “the majority” of Egypt’s currency.
Expected to be completed in 2020, the new facility will be in Cairo and will help support Egypt “in the smart automation of the cash cycle and in further enhancing banknote security”, the German printer says in a statement.
G&D’s Currency Technology arm will be responsible for the project and will help
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