New Delhi/Ranchi: The Jharkhand Government on Friday inked a pact with TCPL Green Energy Solutions Private Ltd (TGESPL), a joint venture between Tata Motors and Cummins Inc, USA to set up the country's "first" hydrogen fuel project in Jamshedpur at an estimated cost of over Rs 350 crore, officials said.

The agreement was signed between the state government and TCPL Green Energy Solutions here in the presence of Chief Minister Hemant Soren, for setting up the project, which would entail an investment of Rs 354.28 crore.

The capacity of the proposed unit will be over 4,000 hydrogen IC engine/fuel agnostic engine and more than 10,000 battery system.

The facility is expected to start commercial production in March 2024, and likely provide employment to about 1,000 people directly or indirectly, the officials said.

Executive Director, Tata Motors, Girish Wagh said the company is committed to provide green, smart and safe mobility.

Soren had earlier announced that the hydrogen internal combustion engine and fuel-agnostic engine will be developed in Jamshedpur by TCPL Green Energy Solutions.

He had given approval to the investment proposal for the unit for manufacturing advance chemistry battery, H2 fuel cell and H2 fuel delivery system.

There are several advantages of hydrogen fuel, as it is available in abundance and does not emit harmful substances, the officials added.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)