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Friday, March 29, 2024

BSP, BCDA sign agreement to move security plant complex

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Capas, Tarlac—The Bangko Sentral ng Pilipinas signed on Friday with the Bases Conversion and  Development Authority a memorandum of understanding to transfer its 41-year old currency production facility in Quezon City to New Clark City in Capas, Tarlac.

Under the agreement signed by BSP Governor Benjamin Diokno and BCDA president and chief executive Vivencio Dizon, the two government agencies committed to work toward the establishment of the new production facility on a 29.22-hectare parcel of land within the New Clark City-National Government Administrative Center.

BSP, BCDA sign agreement to move security plant complex
Bangko Sentral ng Pilipinas Governor Benjamin Diokno (second from left) and Bases Conversion and Development Authority president and chief executive Vivencio Dizon  (third from left) show the signed memorandum of understanding documents on the transfer of the BSP’s 41-year old currency production facility in Quezon City to New Clark City in Capas, Tarlac. July Rada

Diokno said the BSP followed a stringent set of criteria or standards in choosing locations for the facilities. The relocation site was within the former Camp O’Donnell occupied by the American forces during the war in Central Luzon.

“These standards—which encompass everything from lot configuration, site conditions, to infrastructural support—are intended to ensure that BSP operations are optimally located. After an exhaustive canvass of sites north and south of Metro Manila, the New Clark City is the only one that met the requirements of the BSP… ,” Diokno said.

He said the BSP plans to complete the construction of the new facility at the shortest possible time  or within two years. He said the design of the facility was done by BSP’s own architects that would also feature greenery in an effort to help in environmental preservation.

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He said the new production facility could produce 5 billion pieces of banknotes annually, significantly higher than the current 3 billion pieces.

Dizon said BCDA “scored a big one” and “catch a big fish” in hosting BSP in Clark,  noting the importance of the bank’s location in the area.

The relocation is seen as in line with the government’s move of transferring other government agencies outside Metro Manila to help decongest the metropolis of heavy traffic that has been causing around P3.5 billion in economic losses daily based on the recent study of the Japan International Cooperation Agency. Julito G. Rada

Diokno said consistent with the spirit of the New Clark City, BSP envisioned a facility that would serve as a leading benchmark for a smart, green, modern complex, not just within the country but on a global scale as well.

Aside from Clark, other site considered by the Monetary Board for the relocation site was Bonifacio Global City in Taguig. 

The board also planned earlier to sell the security plant in Quezon City for P8 billion. Diokno said the sale of the BSP printing complex would be subject to open public competitive bidding.

“We will sell the Quezon City facility once the Capas facility is finished. It will definitely a competitive public bidding,” Diokno said.

On the issue of why the BSP chose Clark instead of Taguig, he cited a number of reasons, such as “economic, convenience and security.”

“Land is cheaper in Clark than Taguig; Clark has more better infrastructure, better roads, better power, water and telco facilities,” Diokno said.

“Clark is definitely not congested and is nearer the airport. The facilities are easier to secure, and do not pose greater peril to society and people because it is not in the middle of the metropolis,” Diokno said.

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