Fertilizer
Indorama Corporation acquires major Chinese fertilizer producer
Anyang Nitrogen Fertilizer, based in Henan Province, is a major producer of urea
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By ICN Bureau | January 05, 2026
Indorama Investment, an indirect subsidiary of Singapore-based Indorama Corporation, has signed definitive agreements to acquire 100% of Anyang Zhongying Fertilizer Co., and Anyang Yingde Gases Company from PAG, a leading Asia-focused private equity firm. The deal was finalized on 25 December 2025.
Anyang Nitrogen Fertilizer, based in Henan Province, is a major producer of urea, with by-products including ammonia, automotive urea, and industrial gases.
“This acquisition is an important milestone for Indorama, supporting our fertilizer activities in China—the world’s largest fertilizer market and a cornerstone of global agricultural demand. Anyang’s strong operating base in Henan complements our strategy of investing in high-quality assets that support food security.
"We see significant long-term growth opportunities in China and look forward to expanding our product offerings to better serve farmers with reliable, efficient, and sustainable solutions,” said Amit Lohia, Vice Chairman of Indorama Corporation.
David Wong, Partner and Co-Head of Private Equity at PAG, added: “We are pleased to have supported the development of Anyang Nitrogen Fertilizer during our ownership. Our operational experience and industrial value creation approach facilitated the growth of Anyang Nitrogen to become a major fertilizer producer in China.
"With its strong operational foundation, Anyang Nitrogen is even better positioned for growth in the future as a part of Indorama and a world leader in the global fertilizer market.”
