The Bangko Sentral ng Pilipinas (BSP) is expected to start construction of its new BSP Complex in New Clark City in Capas, Tarlac possibly by end 2022.
The BSP has recently signed the contract with winning bidder Aidea Inc. for the architectural and engineering design services of the complex.
BSP Governor Benjamin E. Diokno on Thursday, March 3, said the new BSP complex will occupy 30 hectares, of which 21.32 hectares will be developed by Aidea.
“The design will be finished in 5-6 months and then we will contract out construction which will probably take around two years,” said Diokno in a press chat.
The New Clark City home for the BSP’s printing, minting and other activity is bigger than its current six-hectare Security Plant Complex (SPC) in Quezon City.
“The covered area is designated for the construction of an office building, the BSP Museum, an academic building, a sports complex, data and command centers, and commercial stalls,” said Diokno. “With the signing of the agreement, we move one step closer toward building this inclusive, green, smart, and modern facility,” he added.
Diokno also described the new complex as a “global benchmark for a smart, green, and modern facility, promoting environmental sustainability and efficiency.”
The BSP will build a new plant complex for the production and distribution of currency, and the printing of “secure products” such as the national identification card and land title certificates.
The BSP broke ground on this project in September 2019 and at the time, before the pandemic happened, the BSP was planning to start construction in the first quarter of 2020 and to complete the complex project after three years.
The Tarlac printing facility once operational is intended to have the full capacity to print all of the country’s banknotes requirement, currently at five billion pieces in all six denominations, including the 20-piso which will be phased out eventually to give way to its coin version.
At the moment, the SPC in East Avenue-Quezon City can print up to three billion banknote pieces per year, and the rest are outsourced to foreign printers.
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The article was originally published in Manila Bulletin and written by Lee C. Chipongian.
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