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* Update: Sri Lanka Central Bank calls for bids to mint coins
Thu, Oct 18, 2012, 12:48 am SL Time, ColomboPage News Desk, Sri Lanka.

Editor's Note : ColomboPage on October 12 incorrectly reported that the Sri Lankan government has decided to join with a minter to establish a firm to print monetary coins from next year. We regret the error and the corrected story follows.

Oct 17, Colombo: The Central Bank of Sri Lanka has called for quotations from potential minters for minting of circulation coins for the next three years.

The Central bank has placed a notice calling for potential bidders with 10 years of minting experience to mint 550 million coins of different denominations to be supplied within a three year period, on a staggered basis starting from 2013.

The selected Minter will have to provide a warehouse facility with the mint, free of charge up to a period of six months beyond the final date for delivery of coins and the minting should be carried out only at the bidder's own mint.

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.

According to the bid notice, the majority of the ownership of the prospective Minter should be in the hands of a Government, Central Bank or under a Monetary Authority.

The Central Bank held a pre-bid meeting with the bidders on last Thursday (October 11) and according to local reports citing Central Bank sources, several Minters from many countries have come forward with their bids.

The tender will close on November 01, 2012.

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