What is the significance of the Gujarat MOU for Loop's joint venture with Ester Industries?

The memorandum of understanding signed between Gujarat and Ester Loop Infinite Technologies Pvt Ltd is intended to facilitate permitting, infrastructure coordination, and administrative processes for an advanced recycling project in Bharuch industrial corridor — marking a critical step from planning toward execution of Loop’s first commercial-scale facility using its PET depolymerization technology.

How has Loop revised the cost estimate for the first phase of the Gujarat project, and what factors contributed to the change?

Loop lowered its cost estimate for the first phase (70,000 metric tons/year) from $190 million to $165–170 million due to favorable foreign exchange movement, procurement refinement, and land-related cost considerations.

Loop's India JV Signs MOU with Gujarat for Advanced Recycling Project

May 19, 2026

Loop Industries' joint venture signed an MOU with Gujarat for a commercial PET recycling facility, reducing costs to $165-170 million. This project represents the first commercial-scale implementation of Loop's depolymerization technology for circular PET feedstocks.

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