Loop Industries’ ELITe signs MOU with Government of Gujarat

Loop Industries (LOOP) announced that its joint venture, Ester Loop Infinite Technologies, has signed a Memorandum of Understanding with the Government of Gujarat to support the development of Loop’s India manufacturing platform. The agreement is expected to facilitate permitting, infrastructure coordination, and administrative processes for the project, which represents Loop’s first large-scale commercial deployment. The project is situated in Gujarat’s Bharuch industrial corridor, providing access to established infrastructure, logistics, and nearby sources of low-cost feedstock. The site has been secured with sufficient capacity to support multiple facilities, enabling a phased expansion strategy at the location. The initial facility is designed for approximately 70,000 tonnes of annual production capacity, with the ability to expand through a second facility of approximately 100,000 tonnes at the same site. Based on current engineering assumptions and foreign exchange rates, the estimated capital cost for the initial India facility is currently expected to be approximately $165M-170M, compared to prior estimates of approximately $190M. The improvement primarily reflects favorable foreign exchange movements, ongoing procurement refinement, and land-related cost considerations.