en.Wedoany.com Reported - Recently, South Korea's POSCO disclosed several developments in its overseas investment sector. The company confirmed its stake in Hyundai Steel's electric arc furnace steel mill project in Louisiana, USA, while also injecting capital into a joint venture steel mill project with India's JSW Group. In addition, the site for POSCO's hydrogen-based steel mill project in Pohang, South Korea, has received final approval from South Korea's Ministry of Land, Infrastructure and Transport.
The joint venture between POSCO and Hyundai Steel in the United States—HYUNDAI POSCO Louisiana Steel LLC—has signed Italian equipment manufacturer Danieli as a technology partner. This steel mill will produce high-quality hot-rolled slabs, primarily supplying low-carbon, high-value-added automotive steel to the North American market, with the NERGIRON® direct reduction unit having an annual capacity of 2.5 million tons. According to previous media reports, this Louisiana plant is expected to commence production in the first quarter of 2029, with a total investment of $5.8 billion (approximately 40.8 billion RMB).
In South Korea, the site for POSCO's hydrogen-based steel mill project has received final approval from the Ministry of Land, Infrastructure and Transport. The land will be used to construct a HyREX pilot facility, which reduces fine iron ore using hydrogen and then melts it in an electric furnace to produce molten iron. POSCO aims to complete and operate a pilot plant with an annual capacity of 300,000 tons by 2028. Furthermore, the board of India's JSW Steel Limited has approved the establishment of a joint venture with POSCO. The two parties will build an integrated steel plant in Odisha, India, with an initial annual capacity of 6 million tons. JSW Steel's subsidiary, Saffron Resources Private Limited, will serve as the joint venture entity, with each party holding a 50% stake. POSCO will invest by subscribing to shares, and the transaction is expected to be completed by the end of 2025.
POSCO is South Korea's largest steelmaker, founded in 1968 and headquartered in Pohang, North Gyeongsang Province, South Korea. In 2025, the company's crude steel production was 32.49 million tons, a year-on-year decrease of 2%; finished steel sales volume was 32.7 million tons, a year-on-year decrease of 1.6%. Through these multiple steel mill projects in the United States, South Korea, and India, POSCO is targeting a production capacity scale of 40 million tons.
This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com
