DONALDSONVILLE - A $3 billion iron plant is set to break ground in Donaldsonville around late 2027.

NEMO Industries, which calls itself an "AI-powered ironmaking platform," announced plans to build Ironworks I, which the company claims is the first phase of the world's most efficient pig iron facility; the company also will invest $5 billion across two additional phases for a total of $8 billion across 15 years.

The company is expected to create 350 permanent jobs in Phase One and an additional 600 jobs across Phases Two and Three. Construction is expected to begin in 2027 with plant commissioning in 2030.

The development of Phase One is contingent on completion of required commercial agreements, receipt of necessary permits and securing project financing.

Donaldsonville is also planning a 17,000 acre industrial park named the RiverPlex MegaPark of Louisiana.