Hyundai-POSCO Begins Construction of New US$5.8 Billion Facility in Louisiana
09/08/2026 - Hyundai Steel Co. held a ceremony to celebrate the kickoff of construction for the new US$5.8 billion Hyundai-POSCO Louisiana Steel LLC electric arc furnace–based integrated steel plant in Ascension Park, La., USA, reported PR Newswire.
The mill, part of Hyundai Motor Group’s US$26 billion U.S. investment commitment, will supply green steel sheets to automakers across North America. It will have an estimated capacity of 2.7 million metric tons annually and is expected to begin production in 2029, PR Newswire said.
“As America strengthens its manufacturing leadership, steel will continue to power the next chapter of its industrial resurgence. We are proud to contribute to that vision and to the future of Made in America. Together, we will turn our shared ambitions into greater productivity and prosperity,” said Euisun Chung, executive chair of Hyundai Motor Group.
The project is a joint venture between Hyundai Steel, POSCO, Hyundai Motor Co. and Kia Corp.
For more information, click here.
“As America strengthens its manufacturing leadership, steel will continue to power the next chapter of its industrial resurgence. We are proud to contribute to that vision and to the future of Made in America. Together, we will turn our shared ambitions into greater productivity and prosperity,” said Euisun Chung, executive chair of Hyundai Motor Group.
The project is a joint venture between Hyundai Steel, POSCO, Hyundai Motor Co. and Kia Corp.
For more information, click here.
