Bharat Petroleum Corp. has commenced a pilot project to gain experience in handling hydrogen for the automobile sector.
The pilot project is undertaken at an investment of approximately Rs 25 crore, it said in an exchange filing on Thursday.
The project is planned in collaboration with the Cochin International Airport Ltd., and a Memorandum of Understanding was signed on Feb. 14.
The state-owned company said this after the stock exchange sought clarification on media reports that it is to set up the first-ever green hydrogen plant in an Indian airport.
The company did not notify the stock exchange as this was only a pilot project, and the news report would not have any material impact, it said.
Last week, BPCL's joint venture executed a long-term gas supply agreement with Qatar Energy. The renewal by Petronet LNG Ltd. will purchase liquified natural gas of approximately 7.5 million tonne per annum on a long-term basis.
Shares of BPCL closed 4.62% higher at Rs 652.45 apiece on the BSE, as compared with a 0.32% advance in the BSE Sensex.
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