India, Sept. 30 -- President Donald Trump announced Essar-backed Mesabi Metallics' $18 billion investment to build a fully integrated American steel company, including what he called the "largest steel plant in American history" in Iowa.

The investment includes a proposed $15 billion steel complex in Iowa and about $3 billion invested in an iron ore mine and pelletizing facility in Minnesota.

The project, which is expected to begin production by 2030, will produce about 10 million tonnes of steel a year and employ at least 1,750 people once operational, according to the White House and the company.

"Today, we're thrilled to announce that Mesabi Metallics will be building the largest steel plant in American history in the great state of...