Hyundai Steel Breaks Ground on $5.8 Billion Louisiana Mill

The project, spearheaded by the HYUNDAI-POSCO Louisiana Steel joint venture, represents a major expansion of Hyundai Motor Group’s industrial footprint in the United States. Situated at the RiverPlex MegaPark, the facility is slated to begin commercial operations in 2029 with an annual capacity of 2.7 million metric tons. Beyond production capabilities, the site is expected to generate 5,400 jobs, including 1,300 direct employment opportunities for the local workforce.

This investment serves as a cornerstone of Hyundai Motor Group’s broader $26 billion U.S. commitment through 2028. By integrating the Direct Reduction Process, the mill aims to supply specialized steel to Hyundai and Kia automotive plants, creating a localized supply chain that prioritizes industrial resilience. Euisun Chung, Executive Chair of Hyundai Motor Group, emphasized that the project underscores a long-term strategy to bolster American manufacturing, building upon the company's decades-long presence in the U.S. market.