Iran expects North-South corridor cargo transit to grow to 2 mln tonnes in 2024

The Islamic Republic of Iran is planning to increase transit of cargo via the eastern branch of the International North-South Transport Corridor threefold, reaching two million tonnes, in 2024, Iranian Ambassador to Russia Kazem Jalali said, said Interfax.

"We started operating transportation of cargo via this [eastern] branch in 2023 with the help of the Russian Federation, Kazakhstan and Turkmenistan. This capacity was 650,000 tonnes in 2023. Given the potential of this branch, we have agreed with the Russian side and determined the goal of two million tonnes for 2024," Jalali told reporters at the 9th Caspian Media Forum in Astrakhan on Saturday.

The capacity of the eastern section of the corridor is 15 million tonnes of cargo, this is why "we need to move towards fully using the potential of this branch," he said.

The International North-South Transport Corridor links the north of Europe with the countries of the Persian Gulf and the Indian Ocean via Russia, the Caucasus and Central Asia. Russia, Iran and India signed the agreement on the creation of this multimodal corridor in 2000, and today, 12 countries are parties to it. The corridor comprises three branches - the western one along the western shore of the Caspian Sea, the eastern one along the eastern shore of it, via Kazakhstan, and the trans-Caspian one, via the Caspian Sea.

Iran supplied 500 tons of catalysts to Russia in the last financial year (from March 21, 2023 to March 20, 2024).

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Ethanol producer Raizen SA (Rio de Janeiro, Brazil) and biotech firm Vertoro BV (Geleen, Netherlands) have signed an agreement to jointly develop lignin as a feedstock for the production of second-generation ethanol, also known as cellulosic ethanol, said Chemweek.

The two companies announced the news on Aug. 15. Raizen, a 50/50 joint venture between Shell PLC and Cosan SA, already generates lignin as a byproduct of first-generation ethanol production. Under the agreement, Vertoro will find a way to dissolve lignin more easily to facilitate its use as a feedstock.

The agreement will be implemented in three stages. The first stage involves the processing of lignin into ethanol and methanol, which can then be used to produce sustainable fuel for marine engines. Later stages of the agreement will explore the use of lignin for blending into sustainable aviation fuel and other chemical products.

"We are excited to partner with Raizen on what is set to become the world's most substantial lignin valorization endeavor," said Michael Boot, Vertoro’s cofounder and co-CEO. "This partnership promises to demonstrate conclusively that lignin can be both a financially and industrially viable resource."

Raizen is the world’s largest producer of second-generation ethanol, with an anticipated annual capacity of 80 million liters by the end of the 2024–25 season. Currently, the company uses sugarcane bagasse as feedstock.

"Raizen already plays a pivotal role in the global energy transition by being the only company that has succeeded in producing cellulosic ethanol on a commercial scale,” said Raizen's energy transition director, Mateus Lopes. “Now, by integrating our growing second-generation ethanol production with Vertoro’s innovative lignin conversion technology, we foresee a transformation in the way lignin is perceived and utilized globally.”

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Taiwan-based Formosa Plastics Corp. (FPC), a major global petrochemical maker, has resumed production at its No.2 polypropylene (PP) unit in Ningbo, China, following maintenance, Polymerupdate reported.

Formosa Plastics Corp has resumed production at its No.2 polypropylene (PP) unit in Ningbo. A source in China said the line resumed early last week. It was closed for maintenance on August 5, 2024.

It was previously reported that a fire broke out at the polypropylene (PP) plant in Linyuan, Taiwan, of Taiwanese Formosa Plastics Corp. (FPC), a major global petrochemical manufacturer, on the morning of July 7, 2021. In particular, an explosion occurred in a PP storage tank at the site of this enterprise with a capacity of 230 thousand tons of PP per year, which led to a subsequent fire. The fire was extinguished an hour later.

Formosa Plastics is a major global chemical manufacturer headquartered in Taiwan that primarily produces polyvinyl chloride, polypropylene, polyethylene, and other petrochemical products.

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Changzhou New Solar Chemical, a subsidiary of China's New Solar Group, has resumed production at its No.1 styrene plant in Changzhou, Jiangsu Province, China, following a scheduled maintenance, Polymerupdate reported.

The company resumed operations at the 350,000 tonne/year styrene plant early last week following a major maintenance turnaround. The plant had been closed for maintenance on July 10, 2024.

Earlier, it was reported that Changzhou New Solar Chemical, a subsidiary of China's New Solar Group, stopped production at its styrene plant No. 2 in Changzhou (Changzhou, Jiangsu Province, China) amid declining production margins. Repair work at this plant with a capacity of 300 thousand tons of styrene per year began on March 7 and runs from early May 2023.

Styrene is a raw material for the production of polystyrene (PS).

Changzhou New Solar Chemical Co., Ltd. was founded in 2007. The company's activities include the production of petrochemical products.

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Zhongtian Hechuang Energy, a major petrochemical producer in China, has resumed production at two high-density polyethylene (LDPE) plants in Ordos (Inner Mongolia, China) after maintenance work, Polymerupdate reported.

These plants, with a combined capacity of 370,000 tons of LDPE per year, were closed for scheduled maintenance on June 17 this year. LDPE Plant No. 1 has a capacity of 250,000 tons per year, while LDPE Plant No. 2 has a capacity of 120,000 tons per year.

In addition, Zhongtian Hechuang operates a linear polyethylene (LDPE) plant with a capacity of 300,000 tons per year at a site in Inner Mongolia.

Zhongtian Hechuang Energy Co., Ltd. is a coal mining company in China that produces various petrochemical products, including linear polyethylene, from coal.

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