Hyundai Steel will hold a groundbreaking ceremony on September 4 for its $5.8 billion electric arc furnace-based steel mill in Louisiana, officially beginning the project’s main construction phase.The South Korean steelmaker is jointly developing the facility with POSCO at RiverPlex MegaPark in Ascension Parish. The plant will have an annual production capacity of 2.8 million tonnes and is expected to begin operations in 2029.
The Louisiana mill will manufacture low-carbon, high-value-added automotive steel for Hyundai Motor Group’s US operations and other vehicle manufacturers across North America. The investment is expected to strengthen Hyundai’s regional steel supply chain while supporting demand for cleaner steelmaking technologies.
Danieli and Tenova will supply the direct reduction and steelmaking equipment, while SMS Group will provide rolling mill technology. Fives Group has been selected for the facility’s coil finishing lines.Hyundai Steel has also partnered with Louisiana State University to support technology development and workforce training for the major industrial project.
