President Donald Trump announced a new $15 billion steel plant in Iowa at an Oval Office event on Monday.
Mesabi Metallics has not officially announced the plant’s location. The plant will be built by Mesabi Metallics. However, several Iowa media outlets expect it to be built in Lee County in southeastern Iowa, near the Mississippi River.
It will be the largest in American history and will be able to make high-grade steel suitable for military use from 2030.
The official said it is the first mega-steel plant in the United States since the 1960s. White House spokesperson Taylor Rogers said in a statement, “Today’s announcement underscores the President’s historic efforts to revitalize the U.S. steel industry — supporting local communities, strengthening supply chains, and protecting our national security.”
As per Newsweek , the plant is expected to produce 7.5 million tons of steel each year after the first phase is completed. Gary Works, a US Steel plant in Gary, Indiana, currently has a capacity of 7.5 million net tons of steel per year, according to the Indiana Department of Environmental Management. As per reports, Mesabi Metallics recently invested $2.5 billion in a new iron ore mine in Minnesota.
The new Iowa plant is expected to match that capacity in its first phase and could produce even more later.
It will use American raw materials and will not rely on imports, the White House said. A White House official said the mine will help keep the entire project in the US, from mining to steel production.
