Hyundai Steel Launches $5.8 Billion Steel Mill Project in Louisiana

Hyundai Steel has officially launched its $5.8 billion project to construct a new electric arc furnace (EAF) steel mill in Louisiana, United States. This initiative is part of Hyundai Motor Group's broader $26 billion commitment to the U.S. and is intended to strengthen the local supply chain and industrial resilience.

The project is set to commence commercial production in 2029, with an estimated annual capacity of 2.7 million metric tons of steel. The facility is expected to support a total of 5,400 jobs, including 1,300 direct employment positions.

Located in Baton Rouge, the new steel mill signifies a significant investment in the region's industrial infrastructure. Hyundai Steel aims to enhance the U.S. manufacturing sector's growth and reduce reliance on imported steel products.

This substantial investment underscores the company's long-term strategy in the U.S. market. The development of the Louisiana facility is anticipated to contribute positively to the local economy and the American steel industry.