Canadian recycling technology corporation, Loop Industries, has introduced that its 50:50 joint project with Ester Industries, a Gurgaon-based producer of polyester films and speciality polymers, has came to an agreement to came to a 93-acre site in Gujarat for $10.5-mn, representing a $5-mn reduction from the primary capital cost estimate.
Loop Industries, that’s in search of to increase a circular economy for polyester through producing 100% recycled polyethylene terephthalate (PET) plastic and polyester fibre, stated the site, positioned near Surat within the Dahej Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR), will residence its planned ‘Infinite Loop’ chemical recycling facility. The land obtaining has been initiated with a $1.7-mn deposit.
The location offers strategic access to polyester textile waste feedstock from Surat, called India’s synthetic textile capital. The site gives enough area for both the primary 70,000-tpa capacity facility and a planned expansion of an additional a 100,000-tpa. Loop anticipated the permitting formalities to be finished by end of 2025.
According to the corporation, the facility might be powered via 80% clean, renewable electricity and biofuel, with the resulting PET resin anticipated to have up to 80% decrease carbon emissions in comparison to traditional virgin PET.
Loop Industries specializes in technology that depolymerises waste PET plastic and polyester fibre into building block monomers like dimethyl terephthalate (DMT) and monoethylene glycol (MEG) that may be purified and polymerised to create virgin-pleasant PET resin.
