Statehouse Democrats have some questions about a Koch Industries subsidiary’s multi-billion-dollar acquisition of a Lee County fertilizer plant.
OCI Global announced the $3.6 billion sale in December. As the deal awaits regulatory approval, Rep. J.D. Scholten, D-Sioux City, and the rest of his caucus are asking regulators to investigate the impact consolidation could have on fertilizer prices.
“When you go out and ask any farmer, they’re being squeezed on the input side and the market side. Ask any row crop farmer and fertilizer is one of the number one costs they’ll bring up as an issue,” Scholten said. “We are exploiting our farmers having to pay record costs when it comes to fertilizer.”
Buyer Koch Ag & Energy Solutions already owns one fertilizer plant in Fort Dodge.
Rep. Megan Srinivas, D-Des Moines, said Iowans helped finance the more than $500 million in local, state and federal incentives to bring the plant back in 2017. She said, Iowans deserve answers about the future of the plant and its 260 employees.