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Coco Cola gets nod for rPET JV
11 May 2011: Lincolnshire County Council, UK, has given the green light to a Poun 15 million (approx Rs 110.25 crore) JV between Eco Plastics and Coco-Cola to supply recycled PET (rPET) to the latter.
The UK authorities had granted planning permission to a massive expansion to Eco Plastics’ sorting centre that will allow the site to provide almost 50 per cent of the UK’s plastics recycling capacity. The development will see the Eco Plastics expand its capacity by 40 per cent to 1,40,000 tpa. Of this, 40,000 tonne will be food grade rPET pellet - an increase of 25,000 tonne per year from the plant’s current capacity and almost 70 per cent of domestic production. The company will now develop a purpose built facility to run in tandem with its existing plant - creating 30 new jobs in the process. Work is slated to begin soon and be finished in around 12 months. Coca-Cola has signed a 10-year contract for the rPET flakes and agreed to put up a third of the capital expenditure.
Source: Beveragedaily