A model of Hyundai Steel’s planned electric arc furnace steel mill in the United States. Photo courtesy of Hyundai Steel
July 7 (Asia Today) -- Hyundai Steel is expected to break ground in September on its electric arc furnace steel mill in Louisiana, marking a major step in South Korea's effort to build a U.S.-based steel supply chain.
Industry sources said Tuesday that Hyundai Steel plans to hold a groundbreaking ceremony for the Louisiana plant on Sept. 4. The company recently sent invitations to key local participants to confirm attendance.
Hyundai Steel announced last year that it would invest about $5.8 billion to build an electric arc furnace steel mill in Louisiana. The plant is planned as Hyundai Steel's first North American steel facility and is expected to produce 2.7 million metric tons of low-carbon automotive steel sheets annually.
The project is intended to help Hyundai Motor Group strengthen its steel competitiveness in the United States, respond to tariffs and build a more stable supply chain for its U.S. auto operations.
