PHILIPPINES – Thai petrochemical company, Indorama Ventures (IVL) has partnered with Coca-Cola Beverages Philippines Inc., to launch a recycled polyethylene terephthalate (rPET) plant in the Philippines.
The plant is IVL’s latest recycled PET facility as the global integrated petrochemicals company builds on its position as the world’s largest producer of recycled resin used in plastic beverage bottles.
PETValue Philippines, located in General Trias in Cavite Province south of Manila, is the country’s first food-grade, bottle-to-bottle recycling facility, and the largest in the Philippines.
It was built by IVL in partnership with Coca-Cola Beverages Philippines, Inc. under Coca-Cola’s ‘World Without Waste’ program to collect and recycle the equivalent of every bottle it sells by 2030.
As a result of the joint venture with Coca-Cola, IVL will recycle about 2 billion additional used PET (polyethylene terephthalate) plastic bottles in the Philippines every year and create about 200 new local jobs.
Mr. Sanjay Ahuja, Executive President of Combined PET, Indorama Ventures, said: “PETValue is an important development for IVL, for our partner Coca-Cola, and for the Philippines community.
“IVL, as the largest producer of recycled PET resin, is bringing our global experience and knowledge to grow capacity and recycle more bottles.
“This, together with our partner Coca-Cola’s powerful consumer footprint, represents significant potential for us, as purposeful companies, to close the loop on plastic bottle recycling and help resolve waste in the Philippines.”
The plant will wash and shred post-consumer bottles into flakes to produce recycled PET resin that is suitable for use in food-contact applications.
IVL has already surpassed the halfway milestone toward meeting its 2025 target of increasing its recycling capacity to 750,000 tons per year.
The company is investing US$1.5 billion globally to expand recycling facilities and sustainable production, including a new ambition to reach post-consumer PET bale input of 1,500,000 tons per year by 2030.
PETValue will introduce the most advanced technology and infrastructure in the Philippines, helping to improve collection and recycling rates and prevent leakage into waterways.
The new plant will encourage a more robust waste value chain to help address the growing post-consumer waste management problem in the Philippines.
The unique PET plastic used in soft drinks and water bottles is 100% recyclable and the most collected plastic packaging in the world.
Global brands including Coca-Cola are using more recycled plastic in their bottles to close the loop and deliver a circular economy.
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