German Chemicals firm BASF and Norwegian fertilizer maker Yara may invest in a "world scale" ammonia plant around the U.S. Gulf Coast, Yara said in a statement on Friday.

"Yara, with its global ammonia network and market expertise, seeks to increase its presence in the United States," it said in a statement. "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."

The details of the potential investment, including its size, cost and location, are under discussion, Yara added.