Trump to announce new $15B steel plant: White House official
Summary
President Donald Trump will announce a new $15 billion steel plant in Iowa, built by Mesabi Metallics, which is expected to start producing steel in 2030. The project will create thousands of jobs and aims to revive the U.S. steel industry with local mining and production.Key Facts
- The steel plant will be built in Iowa by Mesabi Metallics with a $15 billion investment.
- It will be the largest new steel plant in the U.S. since the 1960s.
- The plant is expected to produce 10 million tons of steel annually once complete.
- Mesabi Metallics also invested $2.5 billion in a nearby iron ore mine in Minnesota.
- The iron ore mine will produce 7.5 million tons annually and create 350 jobs.
- The steel plant project is expected to create 1,750 jobs in Iowa.
- The project is supported by the Essar Group, an Indian company, which had earlier tried and failed to build the mine and mill.
- White House officials and company executives are attending the announcement event.
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