According to CNBC, the facility could become the largest plant of its kind in US history.
Project details
The plant will be built by Mesabi Metallics, a company owned by the Indian Essar Group.
Trump stated that construction has already begun. The first phase of construction, according to a White House spokesperson, will create between 5,000 and 6,000 construction jobs.
Once operational, the plant will be able to provide around 1,750 permanent jobs.
The total contribution to the US economy, according to the White House, is estimated at $95 billion. The first phase of production will enable the plant to produce 7.5 million tonnes of steel per year, whilst total capacity is expected to reach 10 million tonnes in the long term.
Steel production could begin in 2030.
This story was translated with the assistance of artificial intelligence.The translation was also reviewed by the Logos Press editorial team.
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