"We want to be a part of the solution and not the problem," says Basil Gadzios, country manager, Coca Cola Beverages Sri Lanka.
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The firm has been selling beverages in the island for over 15 years and more than half of their products come in PET or polyethylene terephthalate containers.
The first phase of the project to recycle PET bottles will be based in the densely populated western province of the island with the company eager to expand to other areas soon.
Coca Cola Sri Lanka is investing over three million rupees in the venture to collect plastic bottles and send them to India for recycling, as well as creating awareness among consumers.
"We as a company are prepared to put up our hand and say there is an issue here in Sri Lanka," said Gadzios.
"A lot of people are ignoring the issue but as a company with a strong sense of corporate social responsibility we want to make the consumer and the private sector aware of this issue.
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PET bottles are used for soft drinks, frui