Hyundai Steel Breaks Ground on $5.8B Louisiana EAF Mill
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Ascension Parish, Louisiana – September 09, 2026 -- Hyundai Steel Company held a ceremonial launch for a $5.8 billion Electric Arc Furnace-based integrated steel mill in Louisiana, marking the first facility of its kind in North America.
Joint venture targets 2029 commercial output at 2.7 million metric tons
The mill will be operated by HYUNDAI-POSCO Louisiana Steel LLC (HPLS), a joint venture between Hyundai Steel, POSCO, Hyundai Motor Company and Kia Corporation. Commercial production is targeted for 2029 with annual capacity of 2.7 million metric tons of hot-rolled and cold-rolled steel sheets aimed primarily at automotive applications.