President Trump announced the construction of a steel mill costing approximately $15 billion in Iowa in the US Midwest. The project is expected to generate approximately $95 billion in economic impact and create jobs over the next 10 years, and is expected to become one of the largest steel mills in the United States once completed.
US President Trump announced a plan to build a steel mill costing approximately $15 billion in Iowa. With the midterm elections approaching, the move appears aimed at touting major investment in manufacturing.
Under the plan, Minnesota-based US company Mesabi Metallics will handle construction. Annual production capacity will be 7.5 million tonnes, with an eventual expansion to 10 million tonnes, and the mill is expected to become one of the largest in the United States.
According to explanations from the company and the White House, the project is expected to generate approximately $95 billion in economic impact over the next 10 years and create 1,750 jobs.