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Essar to Build $18B Steel Plant in US, Trump Hails it as 'Largest' in American History
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News18•29-09-2026, 05:01
Essar to Build $18B Steel Plant in US, Trump Hails it as 'Largest' in American History
- •Indian conglomerate Essar Group, through its US subsidiary Mesabi Metallics, will invest approximately $18 billion to construct a steel plant in Iowa.
- •US President Donald Trump announced the project, calling it the ‘largest steel plant in American history’, capable of producing up to 10 million tonnes of steel annually.
- •The project is expected to generate up to 6,000 construction jobs and nearly 2,000 permanent manufacturing and mining jobs.
- •The plant will utilize iron ore from a new mine in Minnesota, creating an integrated supply chain from mining to steel production, with the mine being the first new iron ore mine in the US in over 50 years.
- •Trump and his administration attributed the investment to US trade policies, including the 50% tariff on imported steel, stating that such projects would not be built without these tariffs.
Key Questions Answered
The Indian conglomerate Essar Group, through its US subsidiary Mesabi Metallics, will invest approximately $18 billion to build the new steel plant in Iowa. The facility is expected to produce up to 10 million tonnes of steel per year and take about a decade to develop.
According to President Donald Trump, the project is expected to create up to 6,000 construction jobs and nearly 2,000 permanent manufacturing and mining jobs.
The project will use iron ore from a new mine in Minnesota, which will be the first new iron ore mine built in the United States in more than 50 years, creating an integrated supply chain from mining to steel production.
