BOI approves P10-M project to recycle PET bottles

The Board of Investments (BOI) has approved a P10-million investment by a new firm that is proposing to recycle polyethylene terephtalate (PET) bottles.

Forever Fiber Corp. (FFC), a pioneer operator, plans to manufacture and trade goods derived from plastic waste, specifically used PET bottles.

FFC is developing its own technology and is investing in a plant and equipment to recycle used PET bottles and convert them into chips/flakes that would then be processed into other usable products such as staple fiber.

Staple fiber may be used in the production of yarn, garment and other apparel applications at a lesser cost.

The polyester staple fiber which has been processed from PET bottles exhibits high strength and is shrink and stretch-resistant.

FFC foresees that its product may reduce the local textile manufacturers’ dependence on imported fiber in their manufacturing activities.

Negotiations between FFC and a number of local manufacturers are underway.

In order to ensure a continuing supply of PET bottles, FFC will source the PET bottles from trusted junk shops around the country.

FFC has also forged ties with corporations that produce and utilize PET bottles such as Coca Cola Bottlers, Inc. and La Tondeña Bottlers Philippines.

FFC has been cited by the BOI as a pioneer operator because it will be using a complete range of treatment of recycled materials.

FFC is 60 percent Filipino-owned and 40 percent Chinese-owned. It expects to generate 53 jobs over the next five years and will locate its plant in Valenzuela City.