Coca-Cola Beverages Philippines, Inc. (CCBPI) and Indorama Ventures (Thailand) 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.
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 (polyethylene terephthalate) 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.