Seller Group has agreed to acquire and sell the identified parcels of land (Project Land) for the purpose of development, construction & operation of a Greenfield Chemical Recycling Plant at a Project Cost of about Rs. 1600 crores.
This agreement marks a major milestone towards the establishment of India’s first Infinite Loop™ plant that will recycle polyester textile waste into virgin quality PET resin for textile, promoting circular economy in polyester. The facility is planned with an initial capacity of 70,000 metric tons per year, with provisions for an additional 100,000 metric tons in the future.
Following comprehensive due diligence, ELITe has finalized the purchase of Project Land near Surat, Gujarat, India’s synthetic textile capital. Strategically located within the Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR), the site offers direct access to abundant polyester textile waste feedstock, a skilled petrochemical workforce, and a streamlined permitting process. Its proximity to a deep-water seaport will further support cost-efficient exports of PET resin.
The Infinite Loop™ India facility has been designed to operate on approximately 80% clean, renewable electricity and renewable biofuel. The PET resin produced is expected to deliver up to an 80% reduction in carbon emissions compared to traditional virgin, petroleum-based PET.
