Skip to content
Search

Latest Stories

Indorama, Coca-Cola ink deal to build recycling plant

INDORAMA VENTURES and Coca-Cola have inked a joint-venture to establish PETValue, the largest state-of-the-art, bottle-to-bottle recycling facility in the Philippines.

The facility will be established at General Trias in Cavite, located on the southern shores of Manila Bay.


The plant is expected to be operational in 2021 with the support of Coca-Cola Beverages Philippines, Inc (CCBPI).

Indian businessman Aloke Lohia’s PETValue will help ensure that the polyethylene terephthalate (PET) plastic bottles and packaging are 100 per cent recyclable.

The 70:30 joint venture corporation is in the name of PETValue Philippines Corporation, whereby Lohia’s business will hold 70 per cent equity stake and Coca-Cola Philippines will hold the remaining 30 per cent.

The single use plastic bottles 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 material.

Its projected capacity, or the amount of used plastic bottles it can process, is 30,000 metric tonnes year or almost two billion pieces of plastic bottles, with an output of 16,000 metric tonnes of recycled PET resin in a time span of 12 months.

Indorama Ventures’ global footprint spans over 70 manufacturing sites in over 30 countries and employs over 24,000 people worldwide.

From its inception in 1975, Indorama Ventures has developed numerous business segments, subsequently, becoming the largest producer of polyester products and polyester feedstocks. It has also since established its global leadership in PET plastic manufacturing and recycling.

Through the latest partnership with Coca-Cola, the biggest beverage brand in the world, Indorama Ventures will be bringing their expertise as a global integrated leader in recycling to the Philippines.

Gareth McGeown, CEO of CCBPI, said: “Through this facility, we will boost the collection rates of clear plastic bottles -- collecting not just Coca-Cola bottles, but even ones from other companies. The facility will also support Filipino jobs as well as the livelihoods of people within the waste value chain.”

Indorama Ventures is listed in the Dow Jones Sustainability Index (DJSI), in keeping with their thrust for growth that rests on positive environmental and social continuity.

Indorama Ventures is listed in Thailand and Sri Prakash Lohia, founder and chairman of the Indorama Corporation owns about one-third of the company.

Along with its affiliate Indorama Ventures in Thailand, Indorama Corporation, headquartered in Indonesia, operates over 70 manufacturing sites.

Indorama Corporation is the holding company of eight affiliates of Sri Prakash Lohia’s businesses spread around the world, including Indorama Synthetics, Indonesia; Indorama Eleme, Nigeria; Indorama Industries, India; and Indorama Ventures, Thailand.

Billionaire Sri Prakash Lohia ranked third in the Eastern Eye Asian Rich List last year with an estimated value of £5.8bn.

London based Sri Prakash Lohia was born and brought up in Kolkata, India. However, the Indorama story truly begins in Indonesia for it was there that he relocated with his garment-manufacturing father, Mohan Lal, in the early 1970s.

More For You

Jio Platforms

Jio Platforms includes India’s largest telecom operator, Reliance Jio Infocomm, with more than 500 million users. (Photo: Reuters)

Reuters

Jio IPO planned for mid-2026, AI unit announced with Meta and Google

RELIANCE Industries plans to take its telecom and digital arm, Jio Platforms, public by mid-2026, chairman Mukesh Ambani said on Friday. The announcement sets a new timeline for the long-awaited IPO of a business analysts value at over $100 billion.

At its annual general meeting (AGM), Reliance also announced the launch of an artificial intelligence unit in partnership with Google and Meta.

Keep ReadingShow less
Asda tech overhaul

Asda sales fell 0.2 per cent in the three months to June 30, 2025 (AFP via Getty Images)

AFP via Getty Images

Asda boss hails tech overhaul as key to revival despite sales slump

THE chairman of Asda has admitted the supermarket chain still faces challenges after sales slipped again over the summer, but said the completion of a major IT overhaul was crucial for its recovery.

Allan Leighton told the Times that the long-delayed technology project, called Project Future, had finally been finished after years of setbacks and costs exceeding £1 billion. The work involved separating more than 2,500 systems inherited from former owner Walmart, following Asda’s 2021 takeover by TDR Capital.

Keep ReadingShow less
JLR-Getty

A logo is pictured outside a Jaguar Land Rover new car show room in Tonbridge, south east England. (Photo: Getty Images)

Getty Images

UK car exports to US rebound after trade deal

UK VEHICLE exports to the United States rose in July after a new trade deal between London and Washington reduced tariffs, industry data showed on Thursday.

According to the Society of Motor Manufacturers and Traders (SMMT), exports increased 6.8 per cent in July to nearly 10,000 units, following three consecutive months of decline.

Keep ReadingShow less
Relatives of jailed Briton appeal to UK minister in AgustaWestland row

Christian Michel

Relatives of jailed Briton appeal to UK minister in AgustaWestland row

THE family of Christian Michel, the British businessman accused of acting as a middleman in the AgustaWestland VVIP helicopter deal, has appealed to the UK government to push for his release from Delhi’s Tihar Jail.

Michel’s relatives met Foreign Office minister Catherine West in London on Tuesday (26). The Foreign, Commonwealth and Development Office (FCDO) said the minister listened to their concerns and updated them on ongoing steps being taken.

Keep ReadingShow less
Blackburn loses Issa empire as brothers move EG Group to US

Zuber and Mohsin Issa (Photo: LDRS)

Blackburn loses Issa empire as brothers move EG Group to US

ASIAN entrepreneurs Mohsin and Zuber Issa are moving the headquarters of their global forecourt company, EG Group, from Blackburn to the US in preparation for a major stock market listing in New York.

The firm confirmed that its main office will relocate to Charlotte, North Carolina, while a new base in Bolton, Greater Manchester, will handle its remaining UK operations, the Telegraph reported. The change brings an end to almost 25 years of the company being run from Blackburn.

Keep ReadingShow less