- Essar Group announces $15B steel plant, largest in US history.
- Project in Iowa to create 1,750 permanent jobs by 2030.
- Trump's support for Essar contrasts with Nayara Energy stance.
Washington/New Delhi: US President Donald Trump on Monday unveiled Essar Group, an Indian multinational conglomerate, Mesabi Metallic's major steel investment project, a big boost to American manufacturing aspirations. He said that the company plans to build what the White House called the largest steel plant in US history. But there is an irony. Seema Sirohi, a columnist, quoted an Indian ambassador, who noted that Trump has welcomed Essar into the United States while targeting the Essar company with Russian partners called Nayara Energy in India.
Mined, melted, and made right here in the U.S.A. 🇺🇸
— The White House (@WhiteHouse) September 28, 2026
President Trump announces Mesabi Metallics' new mega steel plant in Iowa, generating thousands of jobs, billions of dollars, and plenty of the highest quality, most affordable steel anywhere in the world. pic.twitter.com/r15Wrl0AgW
Largest steel plant in American history: Trump
According to the latest announcement, Essar Group planned to build a massive steel plant in Iowa with 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. "Today, we're thrilled to announce that Mesabi Metallics will be building the largest steel plant in American history in the great state of Iowa," Trump said.
Mesabi Metallics is building the plant with the aim of starting production by 2030, a White House official said. The facility is expected to produce 10 million tonnes of steel a year and create as many as 1,750 permanent jobs in the state, the official said.
The plant will use iron ore from a new mine that the company invested USD 2.5 billion to build in Minnesota. The mine will produce about 7.5 million tonnes of iron per year and create about 350 jobs in the state, the White House official said, noting that it will be the first new iron mine in the US in 50 years.
President Trump reverses years of anti-mining policy with one of the largest steel plants in American history: a $15B Mesabi Metallics mill. 🇺🇸
— The White House (@WhiteHouse) September 28, 2026
⛏️ Creating 1,750 permanent Iowa jobs
⛏️ Supports 6,000 construction jobs
⛏️ Projected to add $95B to U.S. economy over next decade pic.twitter.com/poR0roYEY6
The mine is based in Minnesota's Mesabi Iron Range, which stretches 80 to 100 miles and contributed about 60 per cent of total iron ore production in the US during the 20th century.
"While I was born in India..."
Essar Group's Mesabi Metallics chairman Rewant Ruia thanked Trump "for bringing back the importance of building things in America." “While I was born in India, I went to high school in New York, college in Boston and did my MBA in California. I have spent half my life here, so announcing this investment today is a true homecoming for me,” Ruia said. "This plant will use the latest technology and will compete head-to-head with any steel plant in the world on size, quality and cost," Rewant Ruia said.
(CREDIT: REUTERS)
“We have built world-class steel plants, oil refineries, ports, power plants and various other assets in India and overseas. Mr President, we have now chosen to build our next major chapter in America,” said India’s Essar Group.
Last week, @EximBankUS Chairman John Jovanovic and his team joined Mesabi Metallics to mark a historic milestone: Our first major blast on site at 1.1 million pounds! pic.twitter.com/T76TWTGc0g
— Mesabi Metallics (@MesabiMetallics) September 23, 2026
Trump's ironic move
The irony highlighted by the former Indian ambassador stems from the dual treatment of entities linked to India’s Essar Group under the Trump administration.
Essar Group, controlled by the Ruia family, owns Mesabi Metallics. Trump welcomed its multi-billion-dollar investment in a new Minnesota iron-ore mine and a massive Iowa steel mill, praising it as a boost to American manufacturing, jobs, and energy independence under his tariffs and “America First” agenda.
From a former Indian ambassador to me: The irony of this could not be greater. Trump welcomes Essar into the United States while targetting the Essar company with Russian partners called Nayara Energy in India! https://t.co/RIe2S06p0F https://t.co/CteKeyBh9b
— Seema Sirohi (@seemasirohi) September 28, 2026
In contrast, Nayara Energy, formerly Essar Oil, the group’s oil refining business sold in 2017, is majority-backed by Russian partners, including Rosneft, with about a 49 per cent stake. The EU sanctioned Nayara last year over its role in refining Russian crude, disrupting exports, finance, shipping, and software access.
The Trump administration has intensified pressure on India for buying Russian oil, including higher tariffs and executive actions aiming to curb such imports, further isolating Nayara amid global compliance risks.
Thus, the same broader Essar corporate family is embraced for US steel investment while its former oil arm, now Russian-partnered in India, faces sanctions and secondary pressure, underscoring inconsistent geopolitical and economic signalling.
(With inputs from agencies)