Texas would be the site for a proposed ammonia plant that BASF and Yara had said in October could be built along the Gulf Coast.

The plant would be located at the existing BASF site in Freeport, Texas, have an annual capacity of 750,000 metric tons, and be based on a hydrogen-synthesis process, the companies said Thursday.

Additional details of the planned joint venture are currently under discussion between the two companies. The project is subject to final approval from the respective boards of directors of BASF and Yara.

BASF Corp., whose corporate offices are in Florham Park, New Jersey, is the North American affiliate of BASF SE, Ludwigshafen, Germany. Yara is based in Oslo, Norway.

Separately, BASF Corp. announced last week it is considering an investment in a large methane-to-propylene complex on the U.S. Gulf Coast that, if built, would be company’s largest investment in a single plant. That plant’s location, production capacity and price are still being evaluated.