By TED CORDERO, GMA News
Published January 14, 2021 6:24pm PETValue Philippines, a joint venture of Coca-Cola Beverages Philippines and Thailand’s Indorama Ventures, has secured a “pioneer status” from the Board of Investments (BOI) which makes it entitled to fiscal incentives. In a statement on Thursday, Coca-Cola Beverages Philippines said PetValue, a P2.28-billion multi-phased project, will establish the “most advanced” and “world-class” technologies in the Philippines to produce more sustainable packaging innovations and to help improve the collection and recycling rates of polyethylene terephthalate (PET) plastic bottles. “We are grateful for the Board of Investments’ recognition of PETValue’s innovations, as well as the agency’s guidance and support, which we are certain will prove invaluable to our collective pursuit of sustainability in the Philippines,” said Gareth McGeown, CEO and president of Coca-Cola Beverages Philippines.