Hyundai Steel has begun construction of a US$5.8 billion electric arc furnace (EAF)-based steel mill in Louisiana, marking a major investment in US manufacturing and adding new domestic capacity to the automotive supply chain.
The project, launched at a ceremony in Ascension Parish on 5 September, is Hyundai Steel’s first North American steel production base.
In a news release, the company said the facility is expected to begin commercial production in 2029, with annual capacity of 2.7 million tonnes of hot-rolled and cold-rolled steel sheets, primarily for automotive applications.
Hyundai Steel said the project is expected to create 5,400 jobs, including 1,300 direct positions, and will be operated by Hyundai-POSCO Louisiana Steel, a joint venture between Hyundai Steel, POSCO, Hyundai Motor Company and Kia Corporation.
Hyundai Motor Group Executive Chair Euisun Chung said the investment would contribute to the expansion of US manufacturing.
“As America strengthens its manufacturing leadership, steel will continue to power the next chapter of its industrial resurgence,” Chung said at the launch.
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