Washington | September 29, 2026
India’s Essar Group, through its US subsidiary Mesabi Metallics, is planning a major steel complex in Iowa as part of an investment package worth about $18 billion, US President Donald Trump announced at the White House.
The proposed facility is expected to become the largest steel plant in US history once fully built, with production eventually reaching about 10 million tonnes a year. Initial steel production is targeted for 2030.
$15 Billion Iowa Steel Complex
The Iowa facility itself is estimated at around $15 billion, while the wider investment includes Mesabi Metallics’ mining operations in Minnesota. The company plans to create an integrated supply chain linking its Minnesota iron-ore mine with the Iowa steel plant.
The first phase is expected to produce around 7.5 million tonnes of steel annually, with capacity potentially increasing to 10 million tonnes as the project is fully developed.
Minnesota Mine to Supply Iowa Plant
Mesabi Metallics is also developing a new iron-ore mine in Minnesota, with an investment of roughly $2.5 billion. The mine is expected to supply the Iowa facility with domestically produced iron ore.
The company says the project will create an integrated US supply chain, from mining and processing to steel production.
Jobs and US Manufacturing
The project is expected to create around 1,750 permanent jobs, while construction could support several thousand additional positions.
The White House has also linked the project to efforts to expand domestic manufacturing and reduce reliance on imported steel. Trump attributed the investment partly to his administration’s steel tariff policies.
The development represents a significant expansion of Essar’s US operations and connects an Indian-owned industrial group with a major American steel and mining project.
