New Plant Targets 2.7 Million Metric Tons of Steel Production

Hyundai Steel is building a $5.8 billion steel mill at the RiverPlex MegaPark in Ascension Parish, Louisiana. This new facility is more than an industry-standard plant; it’s an Electric Arc Furnace-based integrated steel mill, which is a first for North America.

This new site will be run by a joint venture called HYUNDAI-POSCO Louisiana Steel LLC. The group includes Hyundai Steel, POSCO, Hyundai Motor Company, and Kia Corporation.

This major investment establishes the first North American steel base for Hyundai Motor Group’s steelmaking branch. The goal is to start commercial production by 2029. When production finally starts, the mill will pump out 2.7 million metric tons of hot-rolled and cold-rolled steel sheets every year. Most of that steel will go into making cars for Hyundai/Kia.

Locally, the plant aims to create 5,400 jobs, with 1,300 of those being direct positions at the plant.

More Than Just a Steel Plant

“As America strengthens its manufacturing leadership, steel will continue to power the next chapter of its industrial resurgence,” said Hyundai Motor Group Executive Chair Euisun Chung. “We are proud to contribute to that vision and to the future of ‘Made in America.’ Together, we will turn our shared ambitions into greater productivity and prosperity.”

This mill is an addition to a much larger mission. In 2025, Hyundai Motor Group announced a $26 billion U.S. investment commitment that runs through 2028. This move helps expand their work in building cars, making advanced steel, and developing robotics. Additionally, the group hopes to create a comprehensive system to expand its manufacturing footprint across the country.

Hyundai isn’t new to the U.S. market. They first arrived in 1986. Since then, the company has invested more than $20.5 billion here. However, the new Louisiana plant is a significant step forward for their long-term plans.