Anyang Indorama Gases, a wholly owned subsidiary of Singapore-based Indorama Corporation, has secured RMB 2.4 billion, approximately $358 million, in long-term financing from a consortium of five banks to fund its Phase II fertilizer expansion project in Anyang City, Henan Province, China. The lenders include OCBC Bank, Bank of China, Bank of Communications, Bangkok Bank (China), and China CITIC Bank. The investment is expected to double the company’s annual urea fertilizer production capacity to approximately 2 million metric tons by 2029.
The financing will partially fund the construction and development of the company’s Phase II expansion, which is intended to increase its ammonia and urea production capabilities while introducing more energy-efficient manufacturing processes.
The project follows Indorama’s acquisition of the Anyang nitrogen fertilizer business earlier in 2026 and represents a significant investment in expanding the company’s operations in the Chinese fertilizer market.
Upon completion, the expanded facility is expected to strengthen domestic fertilizer production and supply while improving energy efficiency across the manufacturing site.
The investment forms part of Indorama’s broader strategy to expand its international fertilizer platform and support agricultural production in major global markets.
Indorama Corporation manufactures nitrogen and phosphate fertilizers, agricultural inputs, polyethylene, polypropylene, polyester, textiles, industrial chemicals, cotton fiber, and medical gloves.
The company ranks among the world’s largest privately owned fertilizer producers and operates manufacturing facilities across Asia, Europe, Africa, North America, and other international markets.
Including its associate companies, Indorama maintains a manufacturing presence across 38 countries and more than 100 sites, employing over 50,000 people.
The group reports aggregate revenue exceeding $20 billion and assets exceeding $29 billion.
Support: OCBC Bank served as coordinator and facility agent, while Sumitomo Mitsui Banking Corporation (China) acted as security agent for the transaction.
KEY QUOTES:
“This transaction is an important milestone in Indorama’s global growth strategy and reflects the confidence of leading international and Chinese financial institutions in our business. Building on our acquisition of the Anyang business, it strengthens our fertilizer platform in one of the world’s most important markets and reinforces our commitment to supporting global food security. We deeply value our banking partners’ support and look forward to advancing Indorama’s continued global growth.”
Amit Lohia, Group Vice Chairman of Indorama Corporation
“We deeply value the trust and partnership of our banking partners in China. This financing supports the expansion of our fertilizer capacity in Henan Province, reinforcing Indorama’s role as a key industrial contributor to China’s economy and national food security. It is an important step in our continued growth in China, and we look forward to investing further in the country.”
Chai Wei Joo, Country Head for China at Indorama Corporation
“We are pleased to participate in and coordinate this financing alongside our partner banks in support of Indorama’s investment in Henan Province. The project represents an important industrial investment that will contribute to increased fertilizer production and domestic supply. Building on our 14-year partnership with Indorama, we are pleased to further strengthen our support for the Group in China and look forward to deepening our relationship across China and Asia.”
Seth Tan, Managing Director and Head of Corporate Banking China at OCBC Bank
