ESTER.NSE

Ester Industries Ltd.

Under the deal, Loop will provide Twist — its virgin-quality circular polyester resin made entirely from textile waste — making Nike the anchor customer for the Infinite Loop India manufacturing facility being set up with Ester Industries.

Ester Industries and Loop Industries are investing Rs 1,600 crore to establish a joint venture plant in Gujarat, named Ester Loop Infinite Technologies (ELITe). This facility will produce chemically recycled polyester solutions for international markets. The project includes acquiring 90 acres of land in Dahej, with operations expected to commence by the end of 2027.

Arvind Singhania, Chairman and CEO of Ester Industries Ltd. and Daniel Solomita, Founder and CEO of Loop Industries at Loop’s head office in Terrebonne, Quebec, Canada. Credits: Loop Industries. Loop Industries, the operator of PET plastic and polyester fibre recycling technology, has announced the breakdown of its joint venture with South Korean Geo Centric (SKGC). The duo had initially established their relationship in early 2023 with the intention to construct and operate an Infinite Loop manufacturing facility in Ulsan, South Korea. The decision to terminate the agreement reflected Loop’s strategy to “focus capital deployment in low-cost jurisdictions and prioritise a licensing and engineering services model in higher cost countries, as well as a strategic restructuring and re-orientation within the SK Group”, a regulatory filing revealed. SKGC’s Jonghyuk Lee resigned from Loop’s board on January 13, 2025, due to the group’s wider reorganisation. The firm currently intends to continue maintaining its financial investment in Loop.