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President Donald Trump on Monday announced the construction of a massive new steel plant set to be built in Iowa — one of the states critical for Republicans ahead of the high-stakes midterm elections as the party seeks to maintain control of Congress.
“Today, we’re thrilled to announce that Mesabi Metallics will be building the largest steel plant in American history in the great state of Iowa. It’s the largest plant, one of the largest plants in the world. But it’s the largest plant in America by far,” Trump said during the White House event on Monday.
President Donald Trump speaks with Rewant Ruia, Chairman of Mesabi Metallics, and Prashant Ruia, Board Member of Mesabi Metallics and Director of Essar Capital, while making an announcement in the Oval Office at the White House, Sept. 28, 2026, in Washington.
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Mesabi Metallics aims to start production in 2030, a White House official told ABC earlier on Monday. The facility is expected to produce 10 million tons of steel a year and create as many as 1,750 permanent jobs in the state, the official said.
“With the new steel complex in Iowa, we will complete the fully integrated American supply chain from mine to mill. American ore carried on American railroads to an American steel plant powered by American energy, built and operated by an incredibly hardworking and talented American workforce,” Chairman of Mesabi Metallics Prashant Ruia said during the event.
The company also recently invested $2.5 billion in a new iron ore mine in Minnesota, which the company said will allow the project to be fully integrated in the U.S. from mining to production. The mine is expected to produce 7.5 million tons of iron ore annually.
Trump was asked during the event if the new Iowa project was a “done deal” or whether it is contingent upon tax breaks in Iowa. Commerce Secretary Howard Lutnick responded that the “deal is done. They’ve already worked it out.”
“The president doesn’t bring people together unless it’s a done deal,” he later added.
President Donald Trump answers questions from reporters during an announcement in the Oval Office at the White House, September 28, 2026 in Washington.
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The Wall Street Journal first reported the details of the project.
The Wall Street Journal noted that Mesabi Metallics is backed by the Essar Group, an Indian multinational conglomerate, which first proposed the mine and mill project 20 years ago, and ultimately failed. The mine project filed for bankruptcy a decade ago, the Wall Street Journal reported.
ABC News’ Nicholas Kerr contributed to this report.
