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Hyundai Steel and POSCO start building $5.8B Louisiana steelworks

POSCO logoPOSCO
Sig4.57Sen+5.57Env+2.66Soc+2.60Gov+0.40

Hyundai Steel and POSCO have begun construction of a $5.8 billion steelworks in Louisiana, with production scheduled to start in 2029. The plant, through Hyundai-POSCO Louisiana Steel, will reach 2.7 million tonnes annual capacity, including 1.8 million tonnes automotive steel sheets. Output will supply Hyundai Motor and Kia, and Hyundai Steel expects about a 70% carbon-emissions reduction versus blast-furnace steel, with long-term hydrogen fuel under consideration.

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