South Korea-based Hyundai Steel will hold a groundbreaking ceremony on September 4 for its $5.8 billion electric arc furnace-based integrated steel mill in Louisiana, marking the start of the project's main construction phase.
Senior officials from the US and South Korean governments, Louisiana state representatives and executives from Hyundai Motor Group and POSCO Group are expected to attend the ceremony, although the final participant list has not yet been confirmed.
As previously reported by SteelOrbis, Hyundai Steel and POSCO are jointly developing the 2.8 million mt capacity plant at RiverPlex MegaPark in Ascension Parish, with commissioning scheduled for 2029. The facility will produce low-carbon, high-value-added automotive steel for Hyundai Motor Group's US operations and other North American automakers.
The partners have selected Danieli and Tenova for the direct reduction and steelmaking units, SMS Group for the rolling mills and Fives Group for the coil finishing lines, while Hyundai Steel has also signed a research agreement with Louisiana State University covering technology development and workforce training.
