Hyundai and POSCO to break ground on $5.8 billion steel plant in Louisiana
2026-07-14 10:55:03 [Print]
Hyundai Motor Group and POSCO Group are set to begin construction on September 4 for their new electric arc furnace (EAF) steel mill in Louisiana. The US$5.8 billion project marks a significant milestone in establishing a South Korean steel supply chain within the United States.
The facility will be operated as a joint venture, with Hyundai Motor Group holding an 80% stake and POSCO owning the remaining 20%. Once operational, the plant is expected to produce 2.7 million metric tons of low-carbon automotive steel sheets annually.
The facility will be operated as a joint venture, with Hyundai Motor Group holding an 80% stake and POSCO owning the remaining 20%. Once operational, the plant is expected to produce 2.7 million metric tons of low-carbon automotive steel sheets annually.
