In an Oval Office event Monday, President Donald Trump announced that a new, $15 billion steel plant will be built in Iowa, according to a report by the Associated Press.
The plant, which will be located in Lee County in southeastern Iowa, will be built by Mesabi Metallics, a Minnesota company.
It will be supplied by a new iron ore mine that Mesabi Metallics developed in Minnesota’s Mesabi iron range.
Mesabi Metallics is owned by India’s Essar Group, an industrial conglomerate, but the steel in its Iowa plant will be produced from start to finish in the United States.
The plant could begin production by 2030 and produce 10 million tons of steel a year.
