Trump announces $15 billion Essar steel plant in Iowa, production to begin by 2030

US President Donald Trump announced Essar Group’s plans to build a $15 billion steel plant in Iowa on Monday, September 28, calling it the largest steel plant in US history and crediting his administration’s tariff policies for driving investment in American manufacturing.

“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,” Trump said at the White House, alongside Essar Group co-founder Ravi Ruia and his son

Rewant Ruia, chairman of Mesabi Metallics.

The plant is expected to begin production by 2030 and will have the capacity to produce 10 million tonnes of steel a year. It is expected to create up to 1,750 permanent jobs, in addition to thousands of construction jobs.

Trump said the project would use iron ore from Mesabi Metallics’ mine in Minnesota, which has received a $2.5 billion investment from Essar Group. The mine is expected to produce around 7.5 million tonnes of iron ore annually and create about 350 jobs.

The White House said the Minnesota mine would be the first new iron ore mine in the US in 50 years.

Trump pointed to his administration’s 50% tariffs on foreign steel as a key factor behind the investment, saying companies were choosing to build production facilities in the US to avoid tariffs.

“Everyone is building their plant here because they don't want to pay tax,” Trump said.

He also said the Iowa facility would produce high-quality steel for use in the US as well as for exports.

The president described the project as part of a broader revival in US steel manufacturing, saying the sector had suffered significant declines in production and manufacturing employment before he took office -- and blamed former President Joe Biden for it.

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