The availability of recycled PET for the production of synthetic fibres is likely to tighten considerably in the coming years, as a result of new bottle-to-botle ventures like the new PETValue recycling plant in the Philippines.

A joint venture between Indorama Ventures (IVL) and Coca-Cola Beverages Philippines, the bottling arm of Coca-Cola, it will recycle about two billion additional used PET (polyethylene terephthalate) plastic bottles in the Philippines annually.

The plant builds on IVL’s position as the world’s largest producer of recycled resin used in plastic beverage bottles. Located in General Trias in Cavite Province south of Manila, it 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 half-way stage in meeting its 2025 target of increasing its recycling capacity to 750,000 tons per year. The company is investing $1.5 billion globally to expand recycling facilities and sustainable production, including a new ambition to reach post-consumer PET bale input of 1.5 million 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.

“In 2021, we acquired a PET recycling plant in Texas and announced plans to build a new facility in Indonesia,” said Yash Lohia, chairman of IVL’s ESG Council. “In 2020, we signed a joint venture agreement with Coca-Cola to build a state-of-the-art recycling plant in the Philippines, which culminated in this announcement. In the same year, we also acquired recycling plants in Brazil and two in Poland. This is to be celebrated given the challenging pandemic environment. These seven plants will join a family of existing recycling sites in Alabama, Ireland, two in France and the Netherlands.”  

www.indoramaventures.com