Trump unveils Essar’s new steel plant in Iowa

U.S. President Donald Trump on Monday (September 28, 2026) unveiled Essar Group’s plans to build a massive steel plant in Iowa, at an investment of $15 billion.

Mr. Trump made the announcement in the Oval Office with Essar Group co-founder Ravi Ruia and his son Rewant by his side.

"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," Mr. Trump said.

Essar Group's Mesabi Metallics chairman, Rewant Ruia, thanked Mr. Trump “for bringing back the importance of building things in America.”

Mesabi Metallics is building the plant with the aim of starting production by 2030, a White House official said.

The facility is expected to produce 10 million tonnes of steel a year and create as many as 1,750 permanent jobs in the state, the official said.