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Mesabi Metallics steel plant project in Iowa

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2026-09-30 15:31 UTC → 2026-09-30 20:02 UTC · added ~~removed~~

President Donald Trump announced a massive industrial project involving Mesabi Metallics, an entity owned by the India-based Essar Group. The project includes a $15 billion steel mill in Lee County, Iowa, and a $3 billion iron ore mine and pellet plant in Minnesota. The integrated supply chain is expected to begin production around 2030, with an initial capacity of 7.5 million tons of steel per year. The development is projected to create approximately 6,000 construction jobs and up to 2,000 permanent positions paying roughly $49 per hour. Following the announcement, Iowa Governor Kim Reynolds called for a special legislative session on October 2 to amend the state’s Major Economic Growth Attraction (MEGA) program. These legislative changes are intended to facilitate the necessary incentives for the $15 billion investment. While U.S. Secretary of Commerce Howard Lutnick indicated the deal is finalized, the governor’s office noted that a memorandum of understanding has been executed, requiring the program updates.

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