Hyundai Motor Group will invest $21 billion in the United States over the next four years, including a new steel mill coming to Louisiana. The $5.8 billion steel mill is expected to create 1,300 jobs and produce over 2.7 million metric tons of steel annually.
President Donald Trump announced the deal at a ceremony attended by Hyundai representatives and Louisiana officials. The mill will sit on 1,700 acres in Ascension Parish and support manufacturing plants in Alabama and Georgia.
The investment is part of Trump’s plan to boost American industry, with tariffs on steel expected to increase competition for foreign automakers. Louisiana Gov. Jeff Landry credited the deal to Trump’s leadership, saying it was reached by promising a “great president this year.”
Hyundai will work with the Port of South Louisiana to build a deep water dock and partner with Entergy Louisiana to develop transmission projects. The company plans to use an electric arc furnace at the mill, which is expected to produce 70% lower emissions.
The deal has raised concerns about environmental impact, as steel production is a significant contributor to greenhouse gas emissions. However, Hyundai’s plan to reduce emissions is seen as a positive step forward.
Source: https://www.wwno.org/wwno/2025-03-24/louisiana-nabs-hyundais-first-us-based-steel-mill-as-part-of-21b-investment