Abu Dhabi: The UAE Central Bank on Saturday announced it has started laying the base for a security press to print UAE banknotes and other currencies.

The plant is being built with international help on a plot of land granted recently by Abu Dhabi Municipality and located next to the Central Bank building complex in Abu Dhabi.

The Central Bank has formed a taskforce to oversee the implementation of the project. The plant will print all denominations of Dh1,000, Dh500, Dh200, Dh100, Dh50, Dh20, Dh10 and Dh5 notes using the latest security technologies and printing methods and high quality printing paper.

It will have spare capacity for future expansion and to handle printing orders from other countries in the region.

The plant will have tight security arrangements and detailed quality control to maintain high standards.

The facility will go on stream as soon as the printing assembly lines are fitted within the present complex of the Central Bank, and will be moved to the purpose-built building once it is completed.