Indorama urea capacity in China to double to 2 million tonnes with $358 million loan

Anyang Indorama Gases, a wholly owned subsidiary of Singapore-based Indorama Corporation, has signed an RMB 2.4 billion ($358 million) long-term loan to fund Phase II of its fertilizer expansion in Anyang City, Henan Province, the company said on September 22. The project is expected to double Indorama urea capacity at the site to about 2 million tonnes a year by 2029.

A consortium of five Chinese banks provided the financing. The expansion is a brownfield build that follows Indorama’s acquisition of the Anyang nitrogen fertilizer business earlier in 2026. Urea output will be produced from syngas and ammonia, and the company said the new capacity will use more energy-efficient production processes.

Amit Lohia, Group Vice Chairman of Indorama Corporation, called the loan an important milestone in the group’s global growth strategy. He said it strengthens Indorama’s fertilizer platform in one of the world’s most important markets. The Suzhou branch of Bank of China, one of the lenders, said the deal marks the start of its relationship with Indorama in China.

The project adds to China’s domestic nitrogen base as Beijing manages exports tightly. Fertilizer Daily reported that China set a 3.3 million tonne urea export quota with FOB price floors for the fourth quarter. Indorama framed the Anyang project around domestic supply and food security, so the added tonnes are more likely to serve Chinese farmers than export markets. Construction timelines and contractors were not disclosed.

Source: World Fertilizer