01.17.18
Giesecke+Devrient (G+D) has today announced the conclusion of a major contract with the Central Bank of Egypt. The bank has commissioned G+D with planning and building an integrated plant for the production and processing of bank notes in Egypt’s new administrative capital, southeast of Cairo. The project, with a volume of approximately €260 million, includes cutting-edge IT and security infrastructure as well as the setup of further regional centers.
After completion, the plant will cover the majority of the country’s banknote printing and processing capacity. Construction of the new security complex is scheduled to complete in 2020.
“With this significant order G+D expands on its almost 60-year partnership with Egypt,” said Ralf Wintergerst, chairman of the Management Board and CEO of G+D. “It also clearly demonstrates how important cash will continue to be for national economies in the future. The volume of cash is growing by around 3 to 5% each year across the globe.”
After completion, the plant will cover the majority of the country’s banknote printing and processing capacity. Construction of the new security complex is scheduled to complete in 2020.
“With this significant order G+D expands on its almost 60-year partnership with Egypt,” said Ralf Wintergerst, chairman of the Management Board and CEO of G+D. “It also clearly demonstrates how important cash will continue to be for national economies in the future. The volume of cash is growing by around 3 to 5% each year across the globe.”