India’s Essar Group to Build “Largest Steel Plant in US History,” Trump Says

India’s Essar Group plans to invest $18 billion across the United States, including Iowa’s steel project. The conglomerate will invest $15 billion to build a major steel plant in Iowa, officials announced.

US President Donald Trump announced the project during an Oval Office event attended by Ruia family members. Essar’s American subsidiary Mesabi Metallics will develop the facility and establish an integrated steel supply chain. The company will source iron ore from its Minnesota operations to support production at Iowa. Trump described the facility as the largest steel plant in American history during his announcement. The plant will begin production around 2030 and eventually produce 10 million tonnes annually after completion.

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Essar’s US Expansion, Steel Tariffs and Iowa’s Political Significance

The White House said workers will complete the entire steel production process within the United States. Trump credited his administration’s steel tariffs with encouraging companies to build manufacturing facilities domestically across America. He said companies increasingly prefer American production because imported steel now faces substantial tariffs under policies. Essar Chairman Rewant Ruia thanked the administration for emphasizing domestic manufacturing and rebuilding American industrial capacity. Mesabi Metallics expects the facility to supply steel for defence, automobiles, shipbuilding, appliances, energy, infrastructure projects.

The Iowa announcement also highlighted the state’s political importance ahead of upcoming congressional elections next year. Trump appeared alongside Iowa Governor Kim Reynolds and Senator Joni Ernst during the Oval Office announcement. Representatives Ashley Hinson and Mariannette Miller-Meeks also attended the event alongside Trump and other officials. Essar Group began operations in India after brothers Shashi Ruia and Ravi Ruia founded it in 1969. The group operates businesses spanning energy, mining, technology, retail, steel, refining, and infrastructure across several countries. Its Indian assets include a major steel facility at Hazira and a large refinery at Vadinar. Essar also owns Stanlow refinery operations in Britain and plans low-carbon steel production facilities in Saudi Arabia. Mesabi Metallics has operated since 2007 and controls more than 1.4 billion tonnes of iron resources.

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