Loop Industries, Inc. announced that its India joint venture with Ester Industries, Ester Loop Infinite Technologies Private Limited (ELITe), has awarded the detailed engineering contract for its Infinite Loop India chemical recycling project to Toyo Engineering India Private Limited. The award marks the final engineering milestone before the project moves into the construction phase.
The contract covers detailed design, procurement engineering, and preparation of technical documentation for the facility. The award follows the completion of front-end engineering design (FEED) by Tata Consulting Engineers and positions the project to advance toward execution.
The Infinite Loop India facility is planned with an annual capacity of 70,000 metric tonnes of recycled polyethylene terephthalate (PET) resin. The plant is intended to serve packaging and textile applications and is scheduled to be completed by the end of 2027, in line with the project’s previously announced timeline. The joint venture has identified Bharuch in the state of Gujarat as the project location.
The project has secured a multi-year offtake agreement with Nike, which is expected to act as the anchor customer for the facility. The joint venture has stated that this agreement provides commercial visibility for the plant once operations begin.
Total capital expenditure for the project is currently trending below the previously disclosed budget of USD 176 million. Loop Industries said that this includes USD 5 million in savings realised during land acquisition. The debt financing process, led by KPMG in India, is ongoing, with multiple term sheets received from international lenders.
“We are excited to collaborate with Toyo on this critical phase as we deliver India’s first Infinite Loop facility,” said Adel Essaddam, Chief Operating Officer of Loop Industries. He added that with FEED completed, land secured, an anchor customer in place, and detailed engineering underway, the project remains on schedule for completion by the end of 2027.
Arvind Singhania, Chairman and Chief Executive Officer of Ester Industries, said the award of the detailed engineering contract establishes a strong technical foundation for the project and supports the joint venture’s objective of building a large-scale PET recycling facility in India.
Toyo Engineering India said it would execute the detailed engineering for the chemical recycling project, which involves converting waste PET into monomers and then re-polymerising them into virgin-quality PET resin.
Loop Industries is a clean technology company focused on manufacturing recycled PET plastic and polyester fibre using proprietary depolymerisation technology. Ester Industries is an Indian manufacturer with operations spanning polyester films, specialty polymers, and engineering plastics. Toyo Engineering India is an engineering, procurement, and construction services provider with experience in industrial and petrochemical projects across the country.