Circular Economy Indorama Ventures Launches Philippines’ Largest Pet Recycling Plant
Under a partnership with Coca-Cola, Indorama Ventures has developed Pet Value Philippines, the largest Pet recycling plant in the Philippines. With this project, IVL intends to recycle about 2 billion additional used Pet plastic bottles in the Philippines which will be used to produce recycled Pet resin suitable for use in food-contact applications.
Bangkok/Thailand – Indorama Ventures Public Company (IVL) announced the official opening of its Pet Value bottle-to-bottle recycling plant in the Philippines, in partnership with Coca-Cola Beverages Philippines—the bottling arm of Coca-Cola in the country. 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.
Pet Value 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 in accord with The Coca-Cola Company’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. 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.
Managed under IVL’s regional business lead for Recycling Vertical, Anivesh Tewari, Pet Value brings together an experienced leadership team led by Site Manager Joel Potian, who has nearly three decades of manufacturing and chemical engineering expertise in the Philippines and Korea. He is supported by Aris Castillo as Chief Financial Officer, formerly from Coca-Cola Beverages Philippines with more than 10 years in supply chain finance and manufacturing.
Sanjay Ahuja, Executive President of Combined Pet, Indorama Ventures, said, “Pet Value is an important development for IVL, for our partner Coca-Cola, and for the Philippines community. IVL is bringing our global experience and know-how 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.”
Pet Value 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.