[ Hyundai Steel Breaks Ground on $5.8 Billion EAF Mill in Louisiana ]

Published: Sep 8, 2026 15:26

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South Korea's Hyundai Steel held a ceremonial launch on September 5, 2026, for a new $5.8 billion electric arc furnace (EAF) integrated steel mill in Ascension Parish, Louisiana. Operated by a joint venture including POSCO and Hyundai Motor, the greenfield facility aims to reach commercial production by 2029 with an annual capacity of 2.7 million metric tons of hot-rolled and cold-rolled steel sheets. The plant leverages direct reduction processes to supply low-carbon automotive steel and targets $4 billion in annual revenue at full production.

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