Coca-Cola will help build a $45 million plastics recycling plant in South Carolina and has set a goal of having every bottle it sells in the U.S. recycled or reused, Forbes reports.
The company estimates about 10 percent of its plastic bottles are recycled now. It has not set a date for reaching the new goal. The company will spend $60 million this year on its recycling efforts, The Washington Post reports.
Coca-Cola will loan or invest $44 million in the plant project, which is a joint venture with United Resource Recovery Corp.
The 30-acre plant, to be built in Spartanburg, S.C., would produce about 100 million pounds of food-grade recyclable plastic per year – the equivalent of nearly 2 billion 20-ounce Coca-Cola bottles.
Earlier this week, Coca-Cola unveiled a new bottle design that is completely recyclable and uses five percent less PET than its predecessor.
To assist in the recycling effort, Coca-Cola Enterprises, the world’s largest marketer, distributor and producer of Coca-Cola products, has launched Coca-Cola Recycling LLC. Based out of CCE’s Atlanta headquarters, Coca-Cola Recycling will focus on recovering and recycling packaging materials used in North America -? including PET, aluminum, cardboard and plastic film.