Hyundai Steel announces $5.8 Billion electric arc furnace-based integrated steel mill in the U.S.

Hyundai Steel Company has announced a significant investment of $5.8 billion to establish a new, state-of-the-art EAF-based integrated steel mill in Louisiana.

Hyundai Steel's Louisiana mill will focus on the production of steel plates for the automotive industry, driving growth in U.S. manufacturing capabilities and creating over 1,300 jobs in the state, while reinforcing Hyundai Steel's commitment to sustainable steel production.

The EAF-based integrated steel mill will provide an annual steel production capacity of 2.7 million metric tons, with commercial production targeted to begin in 2029. The new mill will also incorporate advanced technologies for producing Direct Reduced Iron (DRI), alongside capabilities for hot-rolled and cold-rolled steel plates.

As the first EAF-based integrated steel mill in the United States to integrate all stages of steel production, from raw materials to finished products, Hyundai Steel's new plant will produce high-grade automotive steel while reducing carbon emissions compared with conventional Blast Furnace (BF) operations.

Hyundai Steel is actively pursuing a joint investment initiative with Hyundai Motor Group to ensure stable capital deployment and reinforce the competitiveness of its U.S. business. In parallel, the company is evaluating equity investment opportunities with strategic partners.

"Hyundai Steel's investment in an EAF-based integrated steel mill in the U.S. is anticipated to stimulate local economic growth, including the creation of new job opportunities. We plan to supply automotive steel plates not only for Hyundai Motor and Kia's strategic models but also to expand sales to U.S. automakers in the future," said Hyundai Steel President and CEO, Seo Gang-Hyun.