Hyundai Motor Group has made a groundbreaking decision to invest $5.8 billion in a new manufacturing facility in Louisiana. This first-of-its-kind site marks Hyundai’s inaugural North American steel facility, establishing a fully integrated, made-in-America supply chain to support its automotive manufacturing operations across the United States.
The ultra-low carbon steel production plant will be located on approximately 1,700 acres in Donaldsonville, Louisiana, anchoring the RiverPlex MegaPark on the Westbank of the Mississippi River in Ascension Parish. At approximately 17,000 acres, RiverPlex is the largest undeveloped tract along the deep-water Mississippi River. Hyundai Steel Company (HSC), a member of Hyundai Motor Group, is expected to create more than 1,300 direct new jobs with an average salary of $95,000. Louisiana Economic Development estimates the project will result in about 4,100 indirect new jobs, for a total of 5,400 potential new jobs in the Capital Region.
“Hyundai’s decision to invest nearly $6 billion in Ascension Parish speaks volumes about Louisiana’s skilled workforce, robust infrastructure and our ability to compete for innovative manufacturing facilities,” Louisiana Governor Jeff Landry said. “This announcement makes clear that Louisiana’s manufacturing sector is roaring back, thanks to our historic tax reforms, our business-friendly approach and the many competitive advantages our state has to offer international powerhouses like Hyundai.”
HSC plans to import an estimated 3.6 million tons of iron ore annually to the facility. Completed coils will be shipped out via rail and truck to customers, including Hyundai Motor Company, Kia, and U.S. automakers. The largest portion of steel manufactured in Louisiana will be sent to Hyundai Motor Company’s vehicle manufacturing plants throughout the U.S. The mill is expected to produce 2.7 million metric tons of steel annually.
The state-of-the-art electric arc furnace (EAF) steel mill is expected to produce 70% lower emissions than traditional blast furnaces, aligning with the Hyundai Motor Group’s mission to..Read More