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Friday, Oct 18
BASF, Yara consider joint U.S. ammonia plant
- German chemicals firm BASF (BASFY.PK) and Norwegian fertilizer maker Yara (YARIY.PK, YRAIF.PK) are evaluating a potential joint investment in a "world scale" ammonia plant at the U.S. Gulf coast.
- Yara, with its global ammonia network and market expertise, seeks to increase its presence in the U.S.; BASF, which has a strong U.S. presence, is currently a major user of ammonia for its U.S. downstream manufacturing activities and intends to further strengthen its backward integration.
- Other fertilizer producers such as CF, MOS and AGU could see interest today on the news.