Agricultural
7 October 2026
Anyang Indorama Gases secures expansion loan
Singapore’s Anyang Indorama Gases, a subsidiary of Indorama Corporation has signed an RMB 2.4 billion ($358 million) long-term loan with a consortium of five Chinese banks to finance the expansion of its fertilizer plant in Anyang City, China. The expansion is set to double the company’s urea fertilizer capacity to around 2 million t/a by 2029.
The project is part of Indorama’s brownfield expansion in China following its acquisition of the Anyang Nitrogen Fertilizer business from investment firm PAG earlier this year. The banks involved are OCBC Bank, Bank of China, Bank of Communications, Bangkok Bank (China) and China CITIC Bank.
