Trump to Announce $15 Billion Steel Plant in Iowa Backed by Indian Conglomerate

US President Donald Trump is announcing a new US$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 US history.

The White House said Trump will announce the project on Monday afternoon alongside steel industry executives and commerce officials. It comes as Trump is trying to energise voters ahead of difficult midterm races including in Iowa, where governor and Senate seats have become competitive.

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 is fully operational, it is expected to produce 10 million tons of steel a year, more than any other in the US.

“President Trump is delivering on his promise to rebuild American industry, reshore manufacturing and create new jobs,” Taylor Rogers, a White House spokeswoman, said in a statement. “Today’s announcement underscores the President’s historic efforts to revitalise the US steel industry.”