On March 4, 2009, the coordination meeting of Integrated Petrochemical Site II Project (IPS II Project) of BASF-YPC Company Limited (BYC) was held at the office of Administrative Committee of Nanjing Chemical Industry Park, attended by Mr. Shen Jian, Standing Member of Nanjing Municipal CPC Committee and Standing Vice Mayor, Mr. Huang Yuyin, Vice Secretary General of Nanjing Government, Dr. Blumenberg, President of BYC, Mr. You Houping, Vice President of BYC, relevant leaders from Nanjing Customs, Nanjing Exit-Entry Inspection and Quarantine Bureau, Nanjing Construction Committee, Nanjing Foreign Economic and Trade Bureau, Nanjing Urban Planning Bureau, Nanjing Fire-fighting Bureau, Administrative Committee of Nanjing Chemical Industry Park and senior management staff of BYC.

On the meeting, Mr. Li Dayang, Director of IPS II Project, introduced the project to all the attendees. The IPS II Project, with a multi-billion RMB investment, will further extend current product chain of BYC, put on more added value to its existing product portfolio and eventually sharpen its competitive edges. During project construction and after commercial operation, the project will serve as a strong engine to boost the local economy. The project is scheduled to start at this year, revamping part of the project is expected to complete in 2010 and newly-built part of the project will be completed in 2011.

On the meeting, relevant government authorities put forward a number of constructive suggestions and ideas for the preparation of the IPS II Project and pledged their all-out support. Mr. Shen Jian, Standing Vice Mayor, said ”we are glad and excited to see BASF and SINOPEC keep on pushing forward the construction of IPS II Project, despite the current severe economic environment. Nanjing local government will give the project strong support”.