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Korea's Hyundai Steel Company held a groundbreaking ceremony for an electric arc furnace steel plant with a total investment of 5.8 billion US dollars in Louisiana, USA. The plant will produce hot-rolled and cold-rolled steel sheets, mainly for the automotive industry. The company issued a statement on Friday saying that the project plans to be commercialized in 2029. The plant, with an annual production capacity of 2.7 million tons, is operated by Hyundai-Pohang Louisiana Steel Co., Ltd., a joint venture formed by Hyundai Steel, Pohang Steel, Hyundai Motors, and Kia. The project is expected to create 5,400 jobs, including 1,300 direct jobs.

Zhitongcaijing·09/05/2026 01:41:01
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Korea's Hyundai Steel Company held a groundbreaking ceremony for an electric arc furnace steel plant with a total investment of 5.8 billion US dollars in Louisiana, USA. The plant will produce hot-rolled and cold-rolled steel sheets, mainly for the automotive industry. The company issued a statement on Friday saying that the project plans to be commercialized in 2029. The plant, with an annual production capacity of 2.7 million tons, is operated by Hyundai-Pohang Louisiana Steel Co., Ltd., a joint venture formed by Hyundai Steel, Pohang Steel, Hyundai Motors, and Kia. The project is expected to create 5,400 jobs, including 1,300 direct jobs.