Clean technology company Loop Industries has announced a major milestone in its India expansion, with its joint venture securing an agreement to acquire a strategic 93-acre site in Gujarat for its Infinite Loop manufacturing facility. 

The land, located near Surat, India's synthetic textile capital, was acquired at a cost of $10.5 million, a $5 million reduction from the original project cost estimate.
The new facility will be a groundbreaking step towards a circular economy for plastics in India. It will use Loop's patented technology to produce 100% recycled PET plastic and polyester fiber from waste, including textile waste. The site is strategically located to ensure a stable supply of feedstock and has access to renewable, clean energy and robust industrial infrastructure.

The initial phase of the facility will have an annual capacity of 70,000 metric tons, with sufficient space for a further 100,000 metric ton expansion. 

The project is a critical component of Loop's global strategy, aiming to provide a sustainable solution to plastic waste. 

The company expects to complete the permitting process by the end of 2025, paving the way for construction to begin.