At a White House ceremony Monday with President Donald Trump and Gov. Jeff Landry, top executives with Korean auto giant Hyundai are expected to announce plans to build a multibillion-dollar steel mill in Ascension Parish to supply its Hyundai and Kia vehicle assembly plants in the U.S.
The new plant will create up to 1,300 full-time jobs and notch a major economic development opportunity for south Louisiana, according to sources familiar with the deal.
The public announcement will confirm a January report from The Times-Picayune that Hyundai and Louisiana had agreed on the outlines of a deal in December. It comes as Trump prepares to impose stiff new tariffs on imports. Manufacturing its own steel, rather than importing it, could shield Hyundai from the tariffs and also save the company on shipping and logistics.
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