PETValue Philippines Corp., a food-grade bottle-to-bottle PET recycling facility, has partnered with Republic Cement & Building Materials Inc. (RCBM) to convert plastic waste that can no longer be recycled into alternative fuel for cement manufacturing.
The agreement, signed last Friday, allows PETValue to divert residual plastic materials generated during its recycling process from landfills by supplying them to ecoloop, Republic Cement's resource recovery arm.
"The Zero Waste to Landfill initiative reflects the power of collaboration within the Aboitiz Group and with our strategic partners. When our businesses work together, we can create integrated solutions that maximize resources, reduce waste, and generate greater value for society," said Eduardo Aboitiz, vice president at Aboitiz Equity Ventures Inc. (AEV).
Republic Cement & Building Materials is a joint venture between Irish building materials company CRH and Philippine conglomerate AEV.
PETValue, a joint venture between Coca-Cola Europacific Aboitiz Philippines and Thailand-based Indorama Ventures, said plastic components such as bottle caps and labels separated during recycling would be recovered by ecoloop and co-processed as alternative fuel for Republic Cement's cement plants.
The arrangement will complement PETValue's bottle-to-bottle recycling operations, which transform post-consumer clear polyethylene terephthalate (PET) bottles into food-grade recycled PET (rPET) resin used to manufacture new beverage bottles.
"We help our partners recover value from waste while reducing landfill dependency. This partnership with PETValue is a strong example of circularity in action," said Angela Edralin-Valencia, ecoloop director.
AEV shares on Friday added P0.15, or 0.46 percent, to close at P32.85.