2002 Annual Meeting of BASF-YPC Company Limited was held in Zhongshan Ballroom of Jinling Hotel on January 17afternoon. 430 people from the company and IMT were present at the meeting.

Dr.Blumenberg, President of the company, delivered a speech, addressing again on the Mission, Values and Vision 2009 of the company and summarizing the achievements on project construction. By 2002, the company achieved 47% of Engineering Progress, 7.5% of Construction Progress and 5 million safe workhours. The Total Funds Committed and Total Funds Expended in the year were respectively USD 1,480 million and USD 680 million.

Looking into 2003, the company formulates the following targets:

complete All Engineering

complete procurement of all major equipment

achieve construction progress of 65%

total funds committed USD 1,800 million, total funds expended USD 1,500 million

complete detailed integrated overall commissioning plan

meet project quality standards

achieve outstanding safety performance

Dr.Blumenberg also appraised the work of each division and set up requirements.

Grand banquet then began in a joyous atmosphere. The partners in the work, colleagues from different divisions availed themselves of this opportunity to toast to each other for enhancing friendship. The participants took pictures one after another to treasure up the pleasant occasion in their memories.