President Donald Trump announced a new $15 billion steel plant in Iowa being built with backing from an Indian conglomerate, creating what the White House says will become the largest steel plant in U.S. history, according to the Associated Press.
The new mill in eastern Iowa is being built by Mesabi Metallics, a Minnesota-based company owned by India’s Essar Group, an industrial conglomerate. The White House said the plant will begin producing steel in 2030 and create more than 2,000 jobs in the United States. When it’s fully built out, it’s expected to produce 10 million tons of steel a year, more than any other in the U.S.
The steel plant will be supplied by a new $2.5 billion iron ore mine that Mesabi developed in Minnesota. The resulting steel will be produced from start to finish in the United States, the White House said.
