Metro Manila (CNN Philippines, September 13) — The Bangko Sentral ng Pilipinas (BSP) has chosen New Clark City as the new location for its peso printing and coin minting facility.
In a statement, the central bank said it signed an agreement with the Bases Conversion and Development Authority (BCDA) on Friday to formally secure a plot of land in the new government center being built in Capas, Tarlac.
The deal signed by BSP Governor Benjamin Diokno and BCDA President and Chief Executive Officer Vivencio Dizon allots a 29.22-hectare lot within the National Government Administrative Center for the new production plant.
The BSP is currently churning out Philippine bills and coins from its Security Plant Complex along East Avenue in Quezon City. It has the sole authority to issue legal tender for day-to-day use.
Diokno said the central bank considered several sites for the move and factored in the lot configuration, site conditions, and infrastructure support.
“After an exhaustive canvass of sites north and south of Metro Manila, needless to say that the New Clark City is the only one that met the requirements of the BSP —with flying colors, might I add,” Diokno said.
“It is crucial for the BSP to maintain a currency production facility that will allow sufficient agility to meet the country’s currency requirements. The move to the New Clark City will also boost the Bank’s capacity to sustain its operations in times of calamity or natural disaster,” he added.
The BSP said the new currency plant would be accesible through an access road from the Subic-Clark-Tarlac Expressway leading to New Clark City.
A number of government agencies have chosen the New Clark City for its backup operations, a move meant to ensure continued services even if a strong earthquake — or the Big One — hits Metro Manila. These backup offices are eyed to be finished by 2022.
The new government center in Clark is under construction, while the sports complex to be used for the country’s hosting of the Southeast Asian Games in November is nearly complete.
