Coca-Cola Beverages Philippines Incorporated (CCBPI) has jumped into the plastic reduction bandwagon, which is sweeping the entire food and drink industry globally. The company has announced it would be spending PHP 1 billion (USD 53 million) to set up a food-grade recycling facility in the Philippines to collect, sort, clean, and recycle used polyethylene terephthalate (PET) plastic bottles.
This investment will represent the first major investment in a recycling facility in Southeast Asia. According to GMA Network, CEO Gareth McGeown said the recycling plant will be launched and operational in 2020. The project is a joint venture between Coca-Cola and two partners comprising a global green technology provider and a domestic company.
The recycling facility will have a yearly capability to process 16,000 metric tons of plastic bottles that can be turned into new plastic bottles, benches, plastic chairs, textiles and other purposes.
CCBPI also has plans to ensure recycled polyethylene terephthalate (PET) plastic will make up 50% of the company’s plastic bottles by 2030. By 2025, to goal is to have all its packaging 100% is recyclable.
The company has also announced the launching of the Viva! bottled water made from 100% recycled plastic.