Ester Industries Limited announced that its India joint venture, Ester Loop Infinite Technologies Private Limited (ELITe), has awarded a detailed engineering contract to Toyo Engineering India Private Limited for its Infinite Loop™ India project. This contract marks the final engineering milestone before construction begins, following the successful completion of front-end engineering design (FEED) by Tata Consulting Engineers. The Infinite Loop™ India manufacturing facility will have an annual production capacity of 70,000 metric tonnes of PET resin and is projected for completion by the end of 2027. The joint venture has also secured a multi-year offtake agreement with Nike, which will serve as the anchor customer. Project economics remain strong, with USD 5 million in savings realized from land acquisition efforts, and the debt financing process is progressing as scheduled, with multiple term sheets received from international lenders. Adel Essaddam, Chief Operating Officer of Loop Industries, expressed excitement about collaborating with Toyo on this critical phase, highlighting the facility's role in converting textile and plastic waste into virgin-quality resin. Mr. Arvind Singhania, Chairman & CEO of Ester Industries Limited, emphasized that the partnership with Toyo provides a strong technical foundation and clear commercial visibility for the project, which aims to redefine PET recycling in India. Kishor Salunke, Chief Operating Officer (SSBU) of Toyo Engineering India, stated their delight in being associated with ELITe for this distinctive initiative in chemical recycling of PET.