Trump unveils plan for $15bn Iowa steel plant he calls biggest in US history
Donald Trump announced a $15 billion steel plant in Iowa, claiming it will be the largest in US history and a boost for the Republican midterm campaign. The facility, owned by the Indian company Mesabi Metallics, is expected to begin production in 2030 and will receive up to $10 billion in federal financing. Despite the announcement, polls show the Republican candidate for the relevant Senate seat trailing the Democrat, and the project relies on significant government subsidies.
- ▪The $15 billion steel plant in eastern Iowa is owned by Mesabi Metallics, a subsidiary of India's Essar Group.
- ▪The US Export-Import Bank will provide up to $10 billion in financing for the project.
- ▪Production at the plant is scheduled to begin in 2030, which is after the upcoming November midterm elections.
- ▪Trump claimed the plant will create up to 6,000 construction jobs and nearly 2,000 manufacturing and mining jobs.
- ▪Polls indicate that Republican Ashley Hinson is trailing Democrat Josh Turek in the Iowa Senate race despite the announcement.
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| Original publisher | The Guardian — World |
| Canonical URL | https://www.theguardian.com/us-news/2026/sep/28/trump-steel-plant-iowa |
| Publication time | Mon, 28 Sep 2026 19:39:39 GMT |
| Retrieval time | 2026-09-28T19:50:21.344Z |
| Last seen | 2026-09-28T19:50:21.344Z |
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Trump announces his plan at the Oval Office on Monday. Photograph: Kevin Dietsch/Getty ImagesView image in fullscreenTrump announces his plan at the Oval Office on Monday. Photograph: Kevin Dietsch/Getty ImagesDonald TrumpTrump unveils plan for $15bn Iowa steel plant he calls biggest in US historyPresident seeks midterms boost as White House says project, built by Indian-owned company, will begin in 2030 Joseph Gedeon in WashingtonMon 28 Sep 2026 15.39 EDTLast modified on Mon 28 Sep 2026 15.41 EDTSharePrefer the Guardian on GoogleDonald Trump on Monday announced what he called the largest steel plant in American history to be built in Iowa, giving Republicans a jobs message to take to voters in a state that could help decide control of the Senate in November.“Using advanced steelmaking…
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