Trump Announces Essar’s $18 Billion US Steel Investment
US President Donald Trump has announced a major investment by Indian conglomerate Essar Group in the United States, with the company set to invest a total of $18 billion in the country.
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
Trump said the Essar Group, which owns Mesabi Metallics, is backing a major steel manufacturing expansion in the US. The announcement includes plans for a new mega steel plant in Iowa, a project expected to create thousands of jobs and significantly expand domestic steel production.
According to Trump, the project will generate billions of dollars in investment and economic activity, while increasing the availability of high-quality steel in the US.
The Essar Group's investment marks a significant expansion of its presence in the American industrial and steel sector. Mesabi Metallics is developing an integrated iron ore and steel operation, with the broader investment expected to strengthen US steelmaking capacity.
Trump highlighted the project as part of efforts to boost American manufacturing, create employment opportunities and increase domestic industrial production.
The announcement also underscores the growing economic and investment ties between India and the United States, with Indian companies continuing to expand their footprint in key sectors of the American economy.
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