Korean auto giant Hyundai is planning to build a multibillion dollar steel mill in Ascension Parish to supply its Hyundai and Kia vehicle assembly plants in the U.S., creating roughly 1,300 full-time jobs and notching a potential major economic development opportunity for south Louisiana, reports NOLA.com.
Hyundai and Louisiana officials agreed on tax and other incentives in December, according to sources, and Hyundai could break ground as soon as 2026. The project will require approvals from state and local regulators. If approved, it could be up and running by 2029.
The new facility would be built on several hundred acres of sugar cane fields near Donaldsonville, about 30 miles south of Baton Rouge. Read more.
