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Trump unveils Essar’s new steel plant in Iowa

Trump unveils Essar’s new steel plant in Iowa

President Donald Trump reverses years of anti-mining policy with one of the largest steel plants in American history, a $15B Mesabi Metallics mill. Trump on Monday unveiled Essar Group’s plans to build a massive steel plant in Iowa, at an investment of USD 15 billion. Trump made the announcement in the Oval Office with Essar Group co-founder Ravi Ruia and his son Rewant by his side. He described the investment as a major boost for US manufacturing. Essar Group, the Indian multinational conglomerate that owns Mesabi Metallics, is investing a total of 18 billion dollars in the United States, Trump said.It aims to begin production in 2030, years after voters go to the polls in November.

Trump said the plant would run on iron ore from the company’s mine in Minnesota, which accounted for roughly 60% of iron ore production in the US in the 20th century.Trump said the project was “expected to create up to 6,000 new construction jobs, nearly 2,000 manufacturing and mining jobs, and add another $95bn to the US economy”.

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