Hyundai Steel will invest $5.8 billion in a new Louisiana steel mill, targeting 2.7 million tons for autos yearly.

Hyundai Steel plans to invest $5.8 billion in building a new steel mill in Louisiana, aiming to produce 2.7 million metric tons of steel annually, mainly for automotive use. The facility, set to start production in 2029, will create over 1,300 jobs and use advanced technologies for sustainable steel production. Its location near Hyundai and Kia plants will support the automakers' steel needs.