Essar-backed Mesabi Metallics has announced an $18 billion investment in a steel project in the United States, described as the largest steel investment in American history.

The announcement follows President Donald Trump’s push to revive American manufacturing through steep tariffs on steel imports. The project is expected to create thousands of jobs across mining, processing and steelmaking.

The facility in Minnesota’s Iron Range will produce iron ore pellets and eventually finished steel, using domestic raw materials. Company officials said the investment reflects confidence in US industrial policy.

The deal marks a striking reversal for Essar, which exited its earlier US steel ambitions years ago. Trump has highlighted the project as validation of his tariff-driven manufacturing strategy.

Trump has repeatedly claimed that tariffs are forcing companies to invest in America. The Mesabi announcement gives the administration a major talking point ahead of the midterm campaign season. Analysts say the project’s success will depend on sustaining domestic demand for steel over the next decade.