Eu Day Light

US President Trump announced that Mesabi Metallics will build a steel complex in Iowa with a $15 billion investment. The project is expected to be the largest steel facility ever built in the United States.

According to a White House statement, the project is expected to create 1,750 new permanent jobs, provide employment for up to 6,000 people during construction, and generate approximately $95 billion in economic output for the US economy during the construction period and the first 10 years of operations.

Iowa Governor Kim Reynolds said the investment represents a transformative opportunity for the country, the state and American families, adding that the project will create thousands of jobs and that high-quality American-made steel will provide a reliable supply source for strategic products and everyday goods.

Iowa Attorney General Brenna Bird said the investment will create more than 1,750 steelworking jobs in southeastern Iowa, noting that the announcement will have positive effects not only for Iowa but across the United States.

Mesabi Metallics Chairman Rewant Ruia said the project will combine the mine in Minnesota with the steel facility in Iowa to create an integrated American supply chain. Company CEO Joe Broking also said the Iowa facility aims to produce steel needed by the defense industry, automotive, shipbuilding, home appliances, energy and infrastructure sectors.

Export-Import Bank of the United States President John Jovanovic assessed the investment in terms of US economic security. American Iron and Steel Institute President and CEO Kevin Dempsey said the investment will increase US iron and steel production capacity and create jobs.