Hyundai Steel (004020), POSCO Holdings Inc. (005490), HYUNDAI MOTOR CO (005380) and KIA CORPORATION (000270) broke ground on a Louisiana steel mill Friday, Dailian reported. The four companies are jointly investing in the Donaldsonville project as automotive steel suppliers and buyers.
The plant carries a planned investment of $5.8 billion. It is designed for annual production capacity of 2.7 million tons of automotive steel for the North American market.
Hyundai Steel's market capitalisation was ₩4.2 trillion at Friday's close. The September 4 ceremony marked the start of construction at the planned 2.7-million-ton facility.
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| Symbol | Last Price |
|---|---|
| 004020Hyundai Steel | ₩31,500 -0.5% |
| 005490POSCO Holdings Inc. | ₩337,000 -1.5% |
| 005380HYUNDAI MOTOR CO | ₩383,500 +0.0% |
| 000270KIA CORPORATION | ₩126,500 -0.7% |