Hyundai Steel to Invest $5.8 Billion to Establish New EAF-Based Steel Mill in Louisiana, USA

Specifications:

Name:

Hyundai Steel to Invest $5.8 Billion to Establish New EAF-Based Steel Mill in Louisiana, USA

Location:

Louisiana, USA

Company:

Hyundai Steel

Estimated Cost:

$5.8 Billion

Source:

https://www.prnewswire.com/

Introduction:

Hyundai Steel Company has unveiled plans to invest $5.8 billion in building a cutting-edge electric arc furnace (EAF)-based integrated steel mill in Louisiana.

Features:

The facility is designed to deliver an annual production capacity of 2.7 million metric tons of steel, with commercial operations expected to commence in 2029.

The plant will feature advanced technologies for Direct Reduced Iron (DRI) production and will be equipped to manufacture both hot-rolled and cold-rolled steel plates.

This major investment will support the production of automotive-grade steel plates, enhance U.S. manufacturing capabilities, and create over 1,300 jobs in Louisiana. It also underscores Hyundai Steel’s ongoing commitment to environmentally responsible steelmaking.

The company aims to supply high-quality steel plates not only for Hyundai Motor and Kia’s strategic vehicle lines but also to expand its customer base among U.S. automakers.