Politics · India Bureau
Essar to build $15bn US steel plant, largest in American history
Indian conglomerate Essar Group will construct a massive steel manufacturing facility in Iowa with an investment of $15 billion, US President Donald Trump announced Monday. The plant is expected to become the largest steel facility in American history and generate over 1,750 jobs.
LSN India ·
Trump made the announcement in the Oval Office alongside Essar Group co-founder Ravi Ruia and his son Rewant, who chairs the project company Mesabi Metallics. The facility will be constructed in Iowa with the primary objective of commencing steel production by 2030.
The plant is anticipated to produce 10 million tonnes of steel annually and create approximately 1,750 permanent employment opportunities within the state. The facility will utilise iron ore sourced from a dedicated mine in Minnesota, in which Essar has invested $2.5 billion. The Minnesota mining operation is projected to yield around 7.5 million tonnes of iron annually.
Rewant Ruia expressed gratitude to Trump for his support, noting the significance of advancing domestic manufacturing capabilities. The investment represents a substantial commitment by the Mumbai-headquartered Essar Group to American industrial infrastructure and reflects the company's expansion strategy in the steel sector beyond its existing Indian operations.