BASF, Yara consider joint U.S. ammonia plant

|About: BASF SE ADR (BASFY)|By:, SA News Editor

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.