Bhubaneswar, Bank Note Paper Mill (BNPM) India Pvt Ltd is planning to set up a bank note paper mill in Odisha's Balasore district with an investment of Rs 2500 crore, it was announced on Wednesday.

BNPM India Managing Director Thalikerappa S. on Wednesday met Chief Minister Naveen Patnaik and briefed him about the proposed project. Patnaik assured him all support for execution of the project, said the Chief Minister's Office (CMO).

BNPM is a joint venture of Bharatiya Reserve Bank Note Mudran Ltd (BRBNMPL) - a wholly-owned subsidiary of the Reserve Bank of India (RBI), and the Security Printing and Minting Corporation of India Ltd (SPMCIL) - a wholly-owned Central public sector undertaking.

On Tuesday, a delegation of RBI and BNPM India officials visited the proposed site for the project. Around 100 acres of land is required for the project, sources said.