[Hyundai Steel Breaks Ground on $5.8 Billion Louisiana EAF Mill, Its First North American Plant]
Hyundai Steel held a ceremonial groundbreaking for its $5.8 billion electric arc furnace-based steel mill in Louisiana, held at the RiverPlex MegaPark in Ascension Parish under the slogan "Building the Future of Steel, Together with Louisiana." The investment marks Hyundai Steel's first North American steel production base, with the mill set to have a capacity of 2.7 million tonnes per year, producing hot-rolled and cold-rolled steel sheets primarily for automotive applications. The project is expected to create 5,400 jobs, including 1,300 direct positions, with production targeted for 2029.