Loop Industries’ India joint‑venture, ELITe, awarded the detailed engineering contract for its Infinite Loop India project to Toyo Engineering India Private Limited on December 16 2025. The EPC firm, which has more than four decades of experience in large‑scale industrial and petrochemical projects in India, will lead the design and construction of the plant.
The facility will produce 70,000 metric tonnes of PET resin annually and is slated for groundbreaking in the second quarter of 2025, with construction expected to finish by the end of 2027 and commercial operations beginning in 2027. The project is anchored by a multi‑year offtake agreement with Nike, and front‑end engineering design was completed by Tata Consulting Engineers. Capital expenditures are tracking below the $176 million budget, with $5 million in land‑acquisition savings.
The award of the detailed engineering contract marks a critical milestone in Loop’s financing strategy. Debt‑financing negotiations, led by KPMG in India, have progressed with multiple term sheets from international lenders, underscoring investor confidence in the project’s viability. Cost discipline is evident, as the plant’s capex remains under budget and land savings reduce overall project cost.
From a business perspective, the contract signals that Loop’s depolymerization technology is moving from proof‑of‑concept to commercial scale in a low‑cost region. The partnership with Nike provides a tangible revenue stream and de‑risks the project, while the early completion of FEED and the secured EPC contract position Loop to meet its 2027 commercial‑operations target. Effective cost management and a strong anchor customer reinforce the company’s strategy to capture a growing market for circular PET and polyester fibers.
Investors have reacted cautiously, focusing on Loop’s recent earnings miss and revenue shortfall in the fourth quarter of fiscal 2025. While the project milestone is positive, the earnings miss dampened enthusiasm, indicating that market sentiment remains sensitive to near‑term financial performance even as the company advances its long‑term circular‑economy strategy.
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