Entergy, HYUNDAI-POSCO Louisiana Steel sign electric service agreement for $5.8B steel mill in Louisiana

SEATTLE (Scrap Monster): Hyundai Steel, along with POSCO and other Hyundai Motor Group affiliates, has made a groundbreaking decision to invest $5.8 billion in a new manufacturing facility in Louisiana, and Entergy Louisiana has finalized an electric service agreement with the company’s domestic steelmaking venture, HYUNDAI-POSCO Louisiana Steel (HPLS), to power the site and support its long‑term energy needs. This agreement was contemplated in Entergy’s more recent outlooks provided in April 2026.

Entergy Louisiana leadership executed the agreement alongside Hyundai Steel officials, underscoring the global significance of the project and the partnership. This critical milestone ensures reliable, long-term energy delivery for the facility and marks a major step forward in bringing the project online.

“Hyundai Steel’s investment is forging strength and opportunity for Louisiana,” said Phillip May, Entergy Louisiana president and CEO. We’re thrilled Hyundai Steel has decided to call Louisiana home, and together, we’re powering new opportunities and strengthening our state’s position as a leader in advanced manufacturing.”

This first-of-its-kind project marks Hyundai Motor Group’s inaugural North American steel mill, establishing a fully integrated, made-in-America supply chain to support its automotive manufacturing operations across the United States.

“Entering into this agreement with Entergy Louisiana marks an important milestone in bringing our low‑carbon emitting integrated steel mill to life,” said Chul Soon Jang, HYUNDAI-POSCO Louisiana Steel president. “Reliable, affordable and forward‑looking energy service is essential to our vision, and Entergy’s partnership gives us the confidence to invest boldly in Louisiana. This facility represents a major step in strengthening our North American supply chain, advancing next‑generation steel production and contributing to economic growth in the region.”

The mill for low-carbon emissions automotive steel will be located on approximately 1,800 acres in Donaldsonville, Louisiana, anchoring the RiverPlex MegaPark on the Westbank of the Mississippi River in Ascension Parish. At approximately 17,000 acres, RiverPlex is the largest undeveloped tract along the deep-water Mississippi River.

The new steel mill is expected to create more than 1,300 direct new jobs. Louisiana Economic Development estimates the project will result in about 4,100 indirect new jobs, for a total of 5,400 potential new jobs in the Capital Region.

The finalized electric service agreement underscores Entergy’s ability to support large-scale, energy-intensive manufacturing projects with reliable, affordable power — a key factor in attracting leading global industries to Louisiana.

Courtesy: www.entergy.com