Hyundai Steel puts a $5.8 billion price tag on the electric arc furnace mill it intends to build in Louisiana.

Hyundai Steel, a member of Hyundai Motor Group (OTCPK:HYMTF) is investing $5.8 billion in a state-of-the-art, EAF-based integrated steel mill in Louisiana, focused on manufacturing steel plates for the automotive sector.

Some of the investment will go toward building a mill in Louisiana to produce steel for electric vehicles made in the United States.

Hyundai Motor Group has made a groundbreaking decision to invest $5.8 billion in a new manufacturing facility in Louisiana.

President Trump announced a $5.8 billion Hyundai Steel project, the company's largest investment in the U.S., for the Donaldsonville area of Ascension Parish. The steel project is estimated to bring in around 1,300 direct jobs and thousands of indirect jobs.

Hyundai has announced a significant multibillion-dollar investment in the US, including a $5.8 billion steel plant in Louisiana.

The steel plant itself will be built in Louisiana. Images of the hat’s blunt message are being shared as second lady Usha Vance gears up for her unwelcome and “highly aggressive” trip to Greenland this week.