With the shared goal of making a more sustainable future happen today, Coca-Cola Beverages Philippines, Inc. (CCBPI) and Thailand-headquartered Indorama Ventures have signed a joint-venture agreement to establish PETValue, the largest state-of-the-art, bottle-to-bottle recycling facility in the Philippines.
The PHP 1-billion, next-generation facility will be established in General Trias, Cavite, and is expected to be completed in 2021. Gareth McGeown, CEO of CCBPI, said, “Cavite being the site of such a crucial infrastructure to our World Without Waste goal is testament to the province’s commitment to help advance the country’s environmental goals. We would like to thank Governor Jonvic Remulla and his constituents, the Caviteños who are opening their communities to this facility.”
PETValue will help ensure that used PET plastic bottles—packaging that is 100% recyclable, and therefore not “single-use”—will be given new life and function as they are collected, processed, and used again and again within a circular economy.
PETValue will deploy cutting-edge technologies and industry-leading best practices to employ the safest and most advanced recycling process for plastic bottles made from PET material. Its projected capacity, or the amount of used plastic bottles it can process, is 30,000 MT / year or almost 2 billion pieces of plastic bottles, with an output of 16,000 MT / year of recycled PET resin.
Indorama Ventures’ global footprint spans over 70 manufacturing sites in over 30 countries and employs over 24,000 people worldwide. From its inception in 1975, Indorama Ventures has developed numerous business segments, subsequently becoming the largest producer of polyester products and polyester feedstocks. It has also since established its global leadership in PET plastic manufacturing and recycling. And through this partnership with Coca-Cola, Indorama Ventures will be bringing their expertise as a global integrated leader in recycling to the Philippines.
Caption: (f.l.t.r.) (Top Row) Mr. Colm Jordan, IVL Recycling Liaisoning Advocate; Atty. Juan Lorenzo Tañada, CCBPI Corporate and Regulatory Affairs Director; Mr. Eddie Ingle, IVL Chief Executive Officer for Recycling Business; (Bottom Row) Mr. Maneesh Gupta, Indorama Philippines Country Head; Mr. Saldie Saldariega, Indorama Philippines IVPPC Director; Mr. Gareth McGeown, CCBPI President and Chief Executive Officer; Mr. Jawahar Solai Kuppuswamy, CCBPI Vice President for Finance; Mr. Manuel Ricardo Sacramento, CCBPI Strategic Planning Director; and Atty. Terrence Fernando, CCBPI Legal Director