Hyundai Steel kicks off $5.8b Louisiana steel mill

ASCENSION PARISH, Louisiana -- Hyundai Steel broke ground Friday on a $5.8 billion steel mill in Louisiana, marking a major step in the South Korean steelmaker’s effort to establish a manufacturing base in the US and grow its supply of automotive steel to global carmakers. Hyundai-Posco Louisiana Steel, an electric-arc furnace joint venture backed by steelmakers Hyundai Steel and Posco as well as Hyundai Motor and Kia, will have an annual production capacity of 2.7 million metric tons of steel s