India's Essar Group To Build "Largest Steel Plant In US History": Trump

The plant, which is projected to begin production in 2030, is expected to produce 10 million tonnes of steel annually once fully built out.

29 Sep 2026, 02:33 · NDTV

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Essar Group plans an $18 billion investment in the US, including Iowa steel plant
Mesabi Metallics to build largest steel plant in US, producing 10 million tonnes yearly
Project announced by President Trump, highlighting Iowa's political importance

How many jobs will the new Iowa plant create?
Washington:

In one of the biggest overseas bets, India's Essar Group plans to invest $18 billion in the United States, including a $15 billion steel plant in Iowa. US President Donald Trump announced the Iowa project at an Oval Office event in the presence of members of the Ruia family, which owns the conglomerate.

Essar's US subsidiary Mesabi Metallics will develop the facility, which is expected to form part of an integrated steel supply chain in the United States, with iron ore coming from the company's operations in Minnesota. Trump said it will be the "largest steel plant in American history", pegging it as an economic victory in a key battleground state where Republicans face competitive midterm races.

"Today we're thrilled to announce that Mesabi Metallics will be building the largest steel plant in American history in the great state of Iowa. It's the largest plant, one of the largest plants in the world, but it's the largest plant in America by far," the US president told reporters.

The plant, which is projected to begin production in 2030, is expected to produce 10 million tonnes of steel annually once fully built out. The White House stated that the entire steel production process will take place in the United States.

Trump said the American steel industry is "roaring back to life", crediting it to the 50 per cent tariffs on steel imports that he imposed last year. "Everyone is building their plants here because they don't want to pay tariffs," Trump said. "It's really not that complicated."

Expressing his appreciation for the Trump administration's domestic manufacturing focus, Mesabi Metallics Chairman Rewant Ruia thanked Trump "for bringing back the importance of building things in America."

The Timing and Political Ambition

The announcement highlighted Iowa's elevated status for Republicans and for Trump, who has pledged to campaign there in coming weeks. Iowa Republicans, including two running for office, were also present at the event.

"We're going to do a great rally. We'll all be there together," Trump said alongside Representative Ashley Hinson, who is running for the US Senate, and Representative Mariannette Miller-Meeks, who is up for re-election. Also joining him were Governor Kim Reynolds and Senator Joni Ernst, who are not seeking new terms in office.

About the Company

The Essar Group is an industrial conglomerate formed by brothers Shashi Ruia and Ravi Ruia in India in 1969, with ventures in industries from energy and mining to technology and retail, according to its website. Its India assets include the country's largest single-location steel facility in Hazira, Gujarat, and the country's second-largest single-location refinery in Vadinar.

It also acquired Shell's Stanlow refinery in the UK. Abroad, it has planned a low-carbon steel plant in Saudi Arabia. Its US subsidiary, Mesabi Metallics, is based in Nashwauk, Minnesota, and has been operational since 2007, when it bought Minnesota Steel, controlling over 1.4 billion tonnes of iron ore resources.

Joe Broking, CEO at Mesabi Metallics, called the announcement a "major moment for US-made steel," saying the factory would be supplying a critical product that US national defence, cars and trucks, shipbuilding, household appliances, energy, and infrastructure depend on.

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