Trump Announces $15 billion Essar Steel Plant in Iowa, Production Targeted for 2030

President Donald Trump announced on September 28 that Essar Group’s Mesabi Metallics will invest $15 billion to build the largest steel plant in U.S. history in Iowa, with production expected to begin by 2030.

What Happened

The unveiling took place in the Oval Office alongside Essar co‑founder Ravi Ruia and his son Rewant Ruia. Energy Secretary Chris Wright, Commerce Secretary Howard Lutnick, Export‑Import Bank chair John Jovanovic and Global Supply Chain director David Copley were also present.

Reaction

Rewant Ruia, chairman of Mesabi Metallics, thanked Trump for “bringing back the importance of building things in America” and said the plant will use the latest technology to compete worldwide on size, quality and cost.

Details

The facility is projected to produce 10 million tonnes of steel each year and create up to 1,750 permanent jobs in Iowa. It will source iron ore from a new $2.5 billion mine in Minnesota’s Mesabi Iron Range, the first new U.S. iron mine in 50 years. The mine will output about 7.5 million tonnes of iron annually and generate roughly 350 jobs. The Mesabi Range historically supplied about 60 percent of U.S. iron ore in the 20th century.

Context

Large‑scale steel projects are rare in the United States, and this investment marks a significant push to revive domestic manufacturing and reduce reliance on imports.