US President Donald Trump announced on Monday in the Oval Office that the Mesabi Metallics company plans to build what he described as the biggest steel plant in US history in the state of Iowa.
According to Reuters and several US media outlets, the project is valued at $15 billion - about €13.2 billion.
Mesabi Metallics, which is owned by the India-based Essar Group, aims to begin production in Iowa by 2030.
A White House official told US media, including NBC News and The Wall Street Journal, that the plant is expected to produce 10 million tonnes of steel a year.
The same source said the project could create up to 1,750 permanent jobs across the state.
