Hyundai Steel Launches $5.8 Billion EAF Steel Mill Project in Louisiana

Hyundai Steel held a ceremonial launch event on September 4 for its $5.8 billion Electric Arc Furnace-based integrated steel mill at the RiverPlex MegaPark in Ascension Parish, Louisiana, the first of its kind in North America.

2.7 million metric tons a year

With commercial production targeted for 2029, the mill will have annual capacity of 2.7 million metric tons of hot-rolled and cold-rolled steel sheets, primarily for automotive applications.

5,400 jobs

The project is expected to create 5,400 jobs, including 1,300 direct positions.

A joint venture for Hyundai and Kia plants

The mill will be operated by Hyundai-POSCO Louisiana Steel, a joint venture of Hyundai Steel, POSCO, Hyundai Motor Company and Kia. It will supply automotive steel to Hyundai’s Alabama plant, Kia’s Georgia facility and Hyundai Motor Group Metaplant America. Using Electric Arc Furnace and Direct Reduction technologies, it will cut CO2 emissions by about 70% versus blast furnaces. The project is part of Hyundai Motor Group’s $26 billion U.S. investment commitment.