Oct 12, Colombo: The Sri Lankan government has decided to join with a minter to establish a firm to print monetary coins from next year.

The majority of the stakes of the minting company should be in the hands of government, Central Bank or any other monetary authority, according to the to the bid notice.

Central Bank of Sri Lanka held discussions with the prospective bidders yesterday.

The chosen minter will mint 550 million coins of different denominations to be supplied within a three year period.

The contract will be to mint 175 million coins of Rs. 10 denomination, 100 million coins of Rs. 5 denomination and 275 million coins of Rs. 2 and Rs. 1 denominations.