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Trump to announce $15 billion Iowa steel plant backed by India’s Essar
The project, built by Mesabi Metallics and expected to start steel production in 2030, is projected to create more than 2,000 US jobs and reach 10 million tons per year once fully operational.
US President Donald Trump is set to announce a new US$15 billion steel plant in Iowa, backed by an Indian conglomerate, the White House said, describing it as the largest steel plant in US history.
According to the White House, the mill will be built in eastern Iowa by Mesabi Metallics, a Minnesota-based company owned by India’s Essar Group. The announcement is scheduled for Monday afternoon with steel industry executives and commerce officials, Associated Press reported through SCMP Economy.
The White House said the plant will begin producing steel in 2030 and create more than 2,000 jobs in the United States. Once fully operational, it is expected to produce 10 million tons of steel a year, more than any other US plant, SCMP Economy reported.
The announcement comes as Trump seeks to energise voters ahead of difficult midterm races, including in Iowa where governor and Senate seats have become more competitive, SCMP Economy noted.