US EXIM announces USD 10 billion support to Essar’s Mesabi Metallics

WASHINGTON: (Mar 20) The United States has announced support of up to USD 10 billion to Mesabi Metallics, an Essar Group company, for a major minerals and manufacturing project in Minnesota.

The US Export-Import Bank (EXIM) made the announcement during the Indo-Pacific Energy Security Ministerial and Business Forum in Tokyo last week.

EXIM said its loans are unlocking nearly USD 30 billion in strategic deals designed to strengthen America’s supply chain security alongside Indo-Pacific allies.