Hyundai, POSCO break ground on EAF-based autosheet works in US

A distinguished group of South Korean and U.S. government officials and business executives lowered ceremonial shovels into a sandpile on a former sugarcane farm in Louisiana in the southern United States on Friday local time, formally starting construction on a wholly Korean-owned integrated steel works focused on flat products for automobiles.

The project, expected to cost $5.8 billion and being actioned by the Hyundai Steel-POSCO Louisiana Steel LLC (HPLS) joint venture, will have a capacity of 2.7 million tonnes/year of hot-rolled, cold-rolled and coated steel sheet and will be the first EAF-based mill in the United States built exclusively for