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In a Monday afternoon White House press conference, Gov. Jeff Landry and President Donald Trump announced that South Korean automaker Hyundai plans to build a $5.8 billion steel plant in Ascension Parish.
Though media reports on the deal surfaced in January, it had not been publicly confirmed by officials until now. The announcement comes as Hyundai moves to boost production on American soil in an effort to avoid Trump’s tariffs.
“This investment is a clear demonstration that tariffs strongly work. … There are no tariffs if you make your cars in America,” Trump said.
The plant, which is expected to create 1,400 new jobs, will be built on a 1,700-acre site in the RiverPlex MegaPark near Donaldsonville. Construction is set to begin in the third quarter of 2026.
The facility will produce 2.7 million metric tons of “low-carbon” steel per year. The steel will be used by Hyundai’s U.S. assembly plants to manufacture electric vehicles as well as by other automakers. Hyundai currently has assembly plants in Alabama and Georgia, and a second Georgia plant is in the works.
Hyundai plans to import an estimated 3.6 million tons of iron ore to the plant per year. The automaker is partnering with the Port of South Louisiana to build a deepwater dock in Ascension Parish to handle shipments.
To support the project’s workforce needs, the Louisiana Community and Technical College System and River Parishes Community College will develop a new workforce training center.
The state offered Hyundai a “competitive” incentives package to land the project, according to Louisiana Economic Development. That package includes a $100 million performance-based grant for infrastructure improvements. The automaker is also expected to participate in Louisiana’s Quality Jobs program.
Landry said recent efforts to make Louisiana more business friendly were instrumental to landing the deal. He also credited Trump for creating the conditions that made it all possible.
“This is America seeing the America First policy in action,” Landry said. “It’s not just promises. It’s about action.”
And while the project will still need to secure necessary permits before moving forward, Trump assured Landry that he would have no issue doing so.
“If you have any trouble getting permits, come see me,” Trump told Landry. “You won’t have any trouble.”
The new steel plant is part of a larger, $21 billion investment that Hyundai plans to make in the U.S. over the next four years, according to company chairman Euisun Chung. Hyundai is the world’s third-largest automaker.
The deal likely took shape when Landry and a handful of state officials traveled to South Korea on an economic development mission in October.
Editor’s Note: This article has been updated since its original publication.
