OSLO, Feb 19 (Reuters) - Norway’s Yara and Germany’s BASF <BASF have agreed to invest a total $600 million to build an ammonia plant at BASF’s site in Freeport, Texas.
The ammonia plant will be owned 68 percent by Yara and 32 percent by BASF and will have a capacity of about 750,000 metric tonnes per year, Yara said in a statement on Thursday.
Yara will in addition build an ammonia tank at the BASF terminal, bringing Yara’s total investment to $490 million. BASF will separately upgrade its current terminal and pipeline assets, Yara said. (Reporting by Stine Jacobsen, editing by Terje Solsvik)