President Donald Trump announced a $15 billion steel plant in Iowa on Monday, calling it the largest such investment in American history. The project is backed by Essar’s Mesabi Metallics.

The plant will mine iron ore and produce steel in the state. Officials said it will create thousands of construction and permanent jobs.

Trump said the investment shows his tariff policies are bringing industry back to America. He has made domestic manufacturing a central theme of his presidency.

Essar executives said the project will use modern, cleaner steelmaking technology. The plant is expected to supply steel for autos, construction and defence.

Local leaders welcomed the announcement. They said the investment will transform the region’s economy for decades to come. Construction is expected to begin early next year, company officials said. The project could reshape America’s steel supply for years to come. State officials said tax incentives helped bring the massive project to Iowa.