US President Donald Trump announced on September 29, 2026, plans for the Essar Group to construct a massive steel plant in Iowa, with an investment of $15 billion. The announcement took place in the Oval Office, where Trump was joined by Ravi Ruia, co-founder of Essar Group, and his son Rewant Ruia.
Key Details of the Announcement
Trump expressed excitement about the project, stating, "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." Rewant Ruia thanked Trump for emphasizing the importance of manufacturing in America.
Production and Job Creation
The new facility is expected to start production by 2030 and aims to produce 10 million tonnes of steel annually. It is projected to create approximately 1,750 permanent jobs in Iowa.
