Hyundai Steel Company held a ceremonial event for a $5.8 billion Electric Arc Furnace-based integrated steel mill in Louisiana, the first of its kind in North America, marking a pivotal moment in strengthening U.S. manufacturing resurgence.
Under the slogan of “Building the Future of Steel, Together with Louisiana,” the ceremonial event took place at the RiverPlex MegaPark in Ascension Parish, Louisiana. The new mill will be operated by HYUNDAI-POSCO Louisiana Steel LLC (HPLS), a joint venture between Hyundai Steel, POSCO, Hyundai Motor Company and Kia Corporation.
The $5.8 billion investment establishes the first North American steel production base for Hyundai Steel, Hyundai Motor Group’s steelmaking arm. With commercial production targeted for 2029, the mill will have an annual capacity of 2.7 million metric tons of hot-rolled and cold-rolled steel sheets, primarily for automotive applications, and is expected to create 5,400 jobs, including 1,300 direct positions.
The state-of-the-art facility is the first of its kind in North America and will utilize Electric Arc Furnace and Direct Reduction Process technologies to build a more localized and resilient automotive steel supply chain. The advanced technology cuts CO₂ emissions approximately 70 percent from the conventional Blast Furnace methods, providing access to more sustainable, low-carbon emissions steel, a key asset underpinning long term nationwide competitiveness.
“As America strengthens its manufacturing leadership, steel will continue to power the next chapter of its industrial resurgence,” said Hyundai Motor group executive chair Euisun Chung. “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.”
“Hyundai Steel is already showing the scale of what transformational investment can mean for Louisiana,” Louisiana Economic Development Secretary Susan B. Bourgeois said. “This project is creating work for Louisiana companies, building a workforce around high-value manufacturing and driving new activity across the region before production has even begun. That is the kind of impact that strengthens our economy now and changes the trajectory of communities for years to come.”
Published September 2026
