The new plant will encourage a more robust waste value chain to help address the growing post-consumer waste management problem in the Philippines. Yash Lohia, Chairman of ESG Council at Indorama Ventures, said, "By the end of this year we will have increased our recycling capacity to more than 375,000 tons. In 2021, we acquired a PET recycling plant in Texas and announced plans to build a new facility in Indonesia. 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 today's announcement. It is through innovations like PETValue Philippines and the strong partnerships we've formed with like-minded entities like Indorama Ventures that Coca-Cola can continue serving Filipino communities for another hundred years."

Source: The Nation Bangkok October 14, 2022 22:05 UTC