Abstract: A process for the combined production of methanol and ammonia, wherein a reactant stream includes carbon monoxide is supplied to a recovery assembly to obtain first and second hydrogen-containing streams, each having an increased molar proportion of hydrogen compared to the reactant stream. The recovery assembly includes a shift conversion in which the carbon monoxide of at least one carbon monoxide-containing stream is at least partially converted into hydrogen and carbon dioxide by reaction with steam to obtain a converted stream having hydrogen and carbon dioxide at least partially recycled to a hydrogen recovery from which the first and second hydrogen-containing streams are obtained. A nitrogen stream and, at least partially, the first hydrogen-containing stream are supplied to an ammonia reactor assembly for at least partial conversion into ammonia and, at least partially, the second hydrogen-containing stream is supplied to a methanol reactor assembly for at least partial conversion into the methanol.