Trump unveils Essar’s $15 billion steel plant plan in Iowa
US President Donald Trump on Monday unveiled Essar Group’s plan for a $15 billion steel plant in eastern Iowa. He made the announcement at an Oval Office event with Essar’s co-founder.
The plant is billed as the largest steel plant in US history. At full build-out, it will produce 10 million tonnes of steel a year. The White House said the project could create up to 2,000 permanent jobs in Iowa. About 6,000 construction jobs are also expected.
The plant will get its ore from a new $2.5 billion Mesabi Metallics iron ore mine in Minnesota’s Mesabi Iron Range. It is the first new iron ore mine in the United States in decades.
Trump credited his 50 per cent steel tariffs for the revival of American steel. He said the tariffs made the investment possible.
The announcement comes ahead of competitive midterm races in Iowa. State leaders welcomed the project as a major win for the local economy.
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