A historic economic announcement unfolded in Ascension Parish as officials revealed plans for a monumental $5.8 billion steel plant to be constructed by Hyundai Steel Company. The proposed facility, to be located near Donaldsonville on the west bank of the Mississippi River, marked one of the largest foreign manufacturing investments ever made in Louisiana, as per this article from Houma Today.

The project, part of the 17,000-acre RiverPlex MegaPark industrial zone, was expected to break ground in 2026. Once completed, the ultra-low carbon steel production plant aimed to generate approximately 2.7 million tons of automotive steel annually. The venture stood poised to not only strengthen domestic supply chains but also create a ripple effect of job growth and infrastructure development across the region.

According to estimates from Louisiana Economic Development (LED), the project would create 1,300 direct positions with an average salary of $95,000 per year, while an additional 4,100 indirect jobs would emerge as a result of the plant’s presence—totaling over 5,400 new employment opportunities in the Baton Rouge metropolitan area.

Hyundai Steel, a division of the Hyundai-Kia Motor Group, selected Ascension Parish as a strategic location to serve its growing U.S. customer base. In addition to supplying automotive steel to Hyundai and Kia’s U.S.-based plants, the company announced intentions to expand its services to other American automobile manufacturers.

Hyundai Steel President and CEO Gang Hyun Seo shared in a news release that the company’s decision to invest in an electric arc furnace-based integrated steel mill in the U.S. was driven by long-term goals to contribute to local economies and enhance job creation. He also emphasized the company’s commitment to building strong business partnerships with a broad range of automakers in the future.

Beyond the $5.8 billion initial investment, Hyundai planned to pour an additional $21 billion into its U.S. operations over the following four years. These developments signaled a significant commitment to reshoring industrial capacity and deepening economic ties between South Korea and the United States. To support the transportation demands of the steel plant, Hyundai will partner with the Port of South Louisiana to construct a deepwater dock on the Mississippi River. This would streamline the import of raw materials and the export of finished steel, further enhancing the region’s logistical strengths.

Recognizing the need for a skilled workforce, River Parishes Community College and the Louisiana Community and Technical College System pledged to collaborate with LED’s FastStart program to establish a new workforce training center. This facility would equip local residents with the technical expertise necessary to fill the jobs the plant would bring.

State and local leaders praised the project as a transformational moment for Louisiana. Governor Jeff Landry described Hyundai’s investment as a strong vote of confidence in Louisiana’s labor force and infrastructure, attributing the state’s appeal to recent economic reforms and a pro-business climate. He viewed the announcement as evidence that the state’s manufacturing sector was regaining momentum.

U.S. Senator Bill Cassidy echoed these sentiments, stating that the push to attract Hyundai was a collaborative effort aimed at reinforcing Louisiana’s role in revitalizing American manufacturing. He expressed satisfaction that the company had chosen Louisiana and acknowledged both state and federal support in making the project a reality.

Ascension Parish President Clint Cointment described the announcement as more than just an economic milestone. He noted that Hyundai’s commitment extended to supporting public safety, enhancing educational institutions, and strengthening community infrastructure. In his words, the project symbolized a generational investment in the wellbeing and future of the entire parish.

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