en.Wedoany.com Reported - Loop Industries' first large-scale commercial project is planned to be located in the Bharuch Industrial Corridor in Gujarat, India. A related agreement is expected to facilitate the project in terms of permitting, infrastructure coordination, and administrative processes.

The project is situated in the Bharuch Industrial Corridor, providing convenient access to existing infrastructure, logistics, and nearby low-cost feedstock sources. The site already has the capacity to support multiple facilities, enabling phased expansion.

The first facility is designed with an annual production capacity of approximately 70,000 tonnes, and the site can also accommodate a second facility of about 100,000 tonnes, allowing expansion to be completed at the same location. Loop stated that the new plant is intended to support its multi-phase construction strategy in India.

The estimated capital cost for the first facility is currently around $165 to $170 million, down from a previous estimate of approximately $190 million. The company attributed the cost reduction to foreign exchange movements, procurement optimization, and land-related cost considerations.

"This agreement will help us move from planning to execution," said Daniel Solomita, CEO of Loop. "With government cooperation and expansion capacity already in place, we are building a scalable commercial platform to support the growing global demand for virgin-quality recycled polyester. And the reduction in capital costs will improve our return on investment."

In November, Loop Industries partnered with Nike to advance the use of recycled materials in the latter's product lines.

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