Essar Group to build largest US steel plant

29-Sep-2026

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US President Donald Trump announced a $15 billion fully integrated steel complex in Iowa by Mesabi Metallics, owned by India's Essar Group. 

The project links a new Minnesota iron ore mine to the Iowa steel plant, expected to produce up to 10 million tons annually starting in 2030. It aims to revitalize US manufacturing, creating thousands of jobs, and is supported by increased steel tariffs as part of Trump's economic agenda. 

The $18 billion investment could generate $95 billion in economic impact.