President Trump is set to announce a $15 billion steel mill project in Iowa by Mesabi Metallics, a Minnesota-based company. The announcement, scheduled for Monday at the White House, aims to bolster the economy ahead of the midterm elections. The plant, located in eastern Iowa near the Mississippi River, could begin operations by 2030 and support over 1,700 jobs.

With an initial capacity of 7.5 million tons annually, the project could expand to 10 million tons. Mesabi, part of Indian conglomerate Essar Group, recently restarted construction at its Minnesota iron ore mine, which began preliminary production this month. The project, originally proposed two decades ago, faced delays and bankruptcy before Mesabi Metallics emerged in 2017.

The company is currently suing Cleveland-Cliffs for alleged antitrust violations and seeking the return of iron ore leases. Trump’s steel tariffs, raised to 50%, have been credited with boosting domestic production and investment, though they have increased costs for manufacturers. The announcement comes as Republicans face a challenging midterm climate, with Iowa—once a Trump stronghold—showing shifting political tides.