Trump announces India-based Essar Group's new steel plant in Iowa: ‘Largest in American history’
While Mesabi Metallics is a US-based company, it is owned by the Essar Group, with Rewant Ruia serving as its chairman.
President Donald Trump announced Monday (local time) that Indian conglomerate Essar Group will invest $18 billion to build the largest steel plant in American history in Iowa. The $15 billion Mesabi Metallics mill will create 1,750 permanent jobs in the state and support 6,000 construction jobs. The plant is projected to add $95 billion to the US economy over the next decade, producing 10 million tonnes of steel annually.
Mesabi Metallics Chairman Rewant Ruia thanked Trump for reviving the importance of manufacturing in America. The investment is expected to bring back a fully integrated domestic supply chain from mine to mill, with the Minnesota operation being the first new iron ore mine in the US in over 50 years.
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