German agchem giant BASF and Norwegian nitrogen fertilizer company Yara said they are evaluating a possible joint investment into a world-scale ammonia plant along the U.S. Gulf Coast.
BASF, which has a strong presence in the United States, is currently a major user of ammonia for its U.S. downstream manufacturing activities and intends to further strengthen its backward integration. Yara, with its global ammonia network and market expertise, seeks to strengthen its presence in the United States.
Additional details of the possible joint venture including the exact location and capacity of the plant are currently being discussed by the parties, BASF said.