President Donald Trump announced Mesabi Metallics' plan to invest about $15 billion in a steel plant in Iowa.
The planned steel plant aims to begin production in 2030 and would create an estimate 1,750 full-time jobs, a White House official said.
Trump is joined in the Oval Office by Mesabi Metallics CEO Joe Broking and Chairman Rewant Ruia, Commerce Secretary Howard Lutnick, Export-Import Bank Chairman John Jovanovic and others, according to the official.
Mesabi Metallics, an Essar Group company, aligns with global sustainability goals, illustrating Essar’s dedication to creating enduring value while supporting a transition towards a more sustainable future.
Essar Group is a major Indian industrial conglomerate founded by Shashi Ruia and Ravi Ruia in 1969. Essar is renowned for its achievements in executing large-scale projects with national significance across India. Today, Essar Group operates in over 20 countries across various regions, including Asia, Africa, the Americas and Europe and with over five decades of expertise, Essar has established itself as a leading global force in its sectors of expertise: Energy, Infrastructure & Logistics, Metals & Mining, and Technology & Retail. https://www.mesabimetallics.com/company/
https://www.cnbc.com/amp/2026/09/28/trump-steel-plant-iowa.html