Hyundai Steel to build plant in Louisiana with annual output of 2.7 million tonnes

From channelnewsasia.com

South Korea's Hyundai Steel will invest $5.8 billion along with Hyundai Motor Group to build a steel plant in the U.S. state of Louisiana with an annual capacity of 2.7 million tonnes, the company said in a regulatory filing on Tuesday. Hyundai Steel shares initially jumped more than 5 per cent on the news but reversed early gains to end 7 per cent lower as U.S. President Donald Trump praised the company's plan. Hyundai Steel's proposed new U.S. steel plant is part of Hyundai Motor Group's plan to invest $21 billion in the United States, which was announced by the South Korean company's chairman with Trump at the ... (full story)