WASHINGTON—President Donald Trump is scheduled to reveal plans for the biggest steel plant in United States history during a 2 p.m. ET announcement from the White House on Monday.
Mesabi Metallics executives will join the president and Sen. Joni Ernst (R-Iowa) in the Oval Office to highlight the company’s $15 billion investment in Iowa, with the exact location details expected to be announced during the ceremony.
After the first phase of construction is complete, the facility will produce approximately 7.5 million tons of steel annually, increasing to 10 million tons per year once fully constructed.
The build-out is expected to take about three years, adding more than 5,000 construction jobs and about 1,750 permanent positions, adding more than $95 billion to Iowa’s economy by 2040, according to White House estimates….