Managing Director of the International Petrochemical Company said that Iran made dlrs 125 million investment in Philippines" petrochemical market and bought a petrochemical plant in that country.

Mohammad Hadi Rahbari said that the company has obtained financial resources for technical and professional activities in the petrochemical market.

He said that IPC has planned to avoid any delay in reimbursement of its financial undertakings and to be on time in terms of payments.

Rahbari said that the company enjoyed euro 10 million in credit from foreign banks for its different petrochemical projects.

He added that the petrochemical company is currently working on a joint venture project with euro 500 million investment to establish a methanol unit in Iran and another in Venezuela.