Ester Industries Limited has informed the Exchange regarding a press release dated December 17, 2025, titled "ELITe, Ester Industries India Joint Venture with Loop Industries, Awards Detailed Engineering Contract to Toyo for Infinite Loop India".
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Awaiting price reaction for this filing.
Ester Industries, through its joint venture 'ELITe' with Loop Industries (named Infinite Loop India), has awarded the Detailed Engineering Contract to Toyo (likely Toyo Engineering, a Japanese EPC firm). This marks a key project execution milestone for the JV, which is focused on building Loop's proprietary depolymerization technology facility in India to recycle PET plastic into virgin-quality resin. The awarding of the engineering contract signals the project is moving from planning into the execution phase.
Positive operational milestone — confirms the JV is progressing on schedule and adds credibility to management's project execution. Likely limited immediate stock impact, but strengthens long-term growth narrative around the sustainable recycling business.