Donald Trump announced a $15 billion steel mill project in Iowa, expected to start production in 2030, creating over 1,700 permanent jobs. The announcement came just weeks before the midterm elections.
On 28 Sep 2026 GMT+7, U.S. President Donald Trump announced a $15 billion steel mill construction project—about 500 billion baht—in Iowa. According to White House data, the project will create more than 1,700 permanent jobs and about 5,000-6,000 construction jobs in the initial phase. The plant’s initial production capacity is about 7.5 million tons per year, with production scheduled to begin in 2030.
Reports state that Mesabi Metallics, headquartered in Minnesota, is the project developer and expects to start steel production in 2030. Recently, Mesabi Metallics opened a new iron ore mine in Minnesota—the first new mine in the state in 50 years. Iron ore from the Mesabi Iron Range mine will be transported to the new Iowa plant.
Mesabi Metallics is owned by Essar Group, an Indian industrial conglomerate, which has invested more than $2.5 billion (about 83 billion baht) in developing iron ore mines in Minnesota. This new project will integrate production processes from mining to steel manufacturing within the U.S.
The project arises amid the Trump administration’s policies to promote domestic manufacturing. Last year, Trump imposed 50% tariffs on steel and aluminum imports, aiming to support domestic production and attract investment back to the U.S. The government stated these tariffs were a key factor encouraging this steel industry investment. The announcement also came just weeks before the November midterm elections, where Iowa’s tightly contested Senate and governor races are closely watched.
Source: Aljazeera