Loop Industries Secures Gujarat MoU for 70,000-Tonne India PET Facility with $165–170M Capex
LOOP•Loop Industries' JV ELITe signed a Memorandum of Understanding with the Gujarat government to facilitate permitting, infrastructure coordination and administrative processes for its first commercial manufacturing site in Bharuch industrial corridor. Initial facility will produce 70,000 tonnes annually with phased expansion to 100,000 tonnes and reduced capital cost now estimated at US$165–170 million versus previous US$190 million.
1. MoU Signing with Gujarat Government
Loop Industries’ joint venture, ELITe, formalized an MoU with the Government of Gujarat to streamline permitting, infrastructure development and administrative approvals for its first large-scale commercial recycling facility in India. This alignment secures government coordination on site approvals, utilities and logistics essential to project execution.
2. Strategic Site and Production Capacity
The selected site in Gujarat’s Bharuch industrial corridor offers established infrastructure connections, logistics networks and access to low-cost PET feedstock. The initial phase is designed for 70,000 tonnes of annual recycled monomer output, with land capacity and approvals in place for a subsequent 100,000-tonne expansion.
3. Improved Project Economics
Revised engineering and favorable foreign exchange rates have lowered the estimated capital cost of the initial facility to US$165–170 million, down from US$190 million. Procurement optimizations and land cost efficiencies underpin the reduction, enhancing project return metrics and investment case.
