Trump announces Essar-backed $18 billion investment to build integrated US steel company
US President Donald J. Trump has announced an $18 billion investment from Indian conglomerate Essar-backed Mesabi Metallics to construct a fully integrated American steel company. The investment, disclosed at the White House alongside Essar Group vice-chairman Ravi Ruia and Mesabi Metallics chairman Rewant Ruia, involves a $15 billion integrated steel complex in Iowa and the existing $3 billion investment in Mesabi Metallics' iron ore mine and pelletizing facility in Minnesota.
The project is hailed as the largest single-location investment in an integrated steel complex in U.S. history and is projected to create thousands of jobs.
Written by urgent.news from The Indian Express's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
