Trump announces India’s Essar Group plan for largest steel plant in US history

Indian conglomerate Essar Group, through its US subsidiary Mesabi Metallics, plans to build what President Donald Trump described as the largest steel plant in American history in Iowa, with production expected to begin in 2030.

Trump announced the project at the White House alongside Essar Group co-founder Ravi Ruia and Mesabi Metallics Chairman Rewant Ruia. The investment has been reported at about $15 billion, while some accounts put the broader project, including a Minnesota iron ore mine, at roughly $18 billion.

“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,” Trump said.

The facility is expected to produce up to 10 million tonnes of steel annually. It will be supplied with iron ore from a new mine in Minnesota, creating an integrated mine-to-mill supply chain.

Rewant Ruia said the plant would use advanced technology and “compete head-to-head with any steel plant in the world on size, quality and on cost.”

Trump attributed the investment partly to US steel tariffs, saying companies were choosing to manufacture domestically to avoid import duties.