US President Donald Trump Announces Essar Group's $18 Billion Investment To Build America's Largest-Ever Steel Plant In Iowa | Video
Washington DC: United States President Donald Trump on Monday (local time) announced that Indian multinational conglomerate Essar Group, through its subsidiary Mesabi Metallics, will invest USD 18 billion to construct the largest steel plant in American history in the state of Iowa. President Trump reverses years of anti-mining policy with one of the largest steel plants in American history: a…
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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