Ester and Loop Join Forces for Recycled Polyester Revolution in Gujarat
Ester Industries and Loop Industries will invest Rs 1,600 crore to establish a JV plant in Gujarat, focusing on chemically recycled polyester for international markets. The project, set to be completed by 2027, underscores a commitment to circular supply chains in the apparel and textile sectors.
- Country:
- India
In a significant move for sustainable manufacturing, Ester Industries and Loop Industries have announced a joint venture to develop a chemically recycled polyester plant in Gujarat. The Rs 1,600 crore investment marks a crucial step towards establishing India as a hub for circular polyester solutions targeting global markets.
Named Ester Loop Infinite Technologies (ELITe), the joint venture plans to acquire a 90-acre land parcel in Dahej, with each entity contributing equally to a total initial investment of Rs 500 crore, supplemented by bank loans. The acquisition finalization is projected for 2025, with plant commissioning anticipated by 2027.
The partnership extends further through an alliance with Hyosung TNC, enhancing the reach of their recycled polyester into global apparel and textile industries. This initiative reinforces Ester's commitment to facilitating the transition of large brands to sustainable supply chains.
(With inputs from agencies.)
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