The Essar Group has announced plans to build a $15 billion steel plant in the US state of Iowa, marking one of the largest Indian industrial investments in America. The facility would produce around 10 million tonnes of steel a year.

The project is expected to create up to 1,750 permanent jobs once fully operational. Production is planned to begin in 2030, giving the company time to build the plant and secure permits.

The announcement comes as the United States pushes to expand domestic steel production and reduce dependence on imports. New steel plants in America have become politically and economically attractive in recent years.

Essar has said the plant will use modern, cleaner production methods. Details on financing and the exact site within Iowa have not yet been disclosed.

Local and federal approvals will be needed before construction begins. The company is expected to share more details as the project moves forward.