BASF and SINOPEC jointly held two sessions of Site Coordination Meeting for IPS Project respectively on 18th,19th of April and 21st of May.

The session with the presence of Mr. Wang Jiming, Vice Chairman and President of Sinopec and Dr. Kreimeyer, member of the Board of Executive Directors of BASF respectively Dr. Nissen, President of BASF Eastern Asia Headquarter Co.,Ltd in April confirmed the recent achievements of IPS project. In the two months following the first Site Coordination Meeting, the overall progress incremental reached 10.4%, which had never been achieved in the previous five months. Power plant, startup boiler, AA/AE and IOU progressed well and substantially caught up with the recovery plan. EG saw a major improvement. Power plant achieved Mechanical Completion as schedule and startup boiler was turned over.

The session analyzed the major issues in construction and reminded that there are still difficulties to overcome.

Dr.Kreimeyer, member of Executive Board of BASF, Dr. Deibel, President of Engineering division of BASF, Mr.Zhang Kehua, Director of Engineering division of SINOPEC, Management of the company and IMT, Management of EPC contractors and subcontractors attended the third session of Site Coordination Meeting on 21st May. The session listened to the EPC contractors' individual report on progress since the last session, work arrangement for the next phase, issues and concerns and then made comments on contractors' performance. Dr.Kreimeyer and Mr.Zhang Kehua, on behalf of BASF and SINOPEC respectively, summarized the session at the end. They expressed congratulations to the safety achievements of IPS project and affirmed the efforts of all participants. AA/AE, OXO and IOU are praised for positive progress, while, C1,LDPE,Syngas are identified as the key areas for the coming months. All EPC contractors are required to create and maintain favorable conditions for their construction subcontractors.

It is decided that the fourth session will be held at IPS site in July.