South Korea's Hyundai Steel plans $2.9 billion capital increase for US steel plant
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South Korea's Hyundai Steel plans a $2.9 billion capital increase for its affiliate Hyundai-POSCO Louisiana LLC to invest in a US steel plant. This follows a previous announcement of a $5.8 billion investment to build a facility with an annual capacity of 2.7 million tonnes in Louisiana. The financing will be split equally between equity and external borrowing, with Hyundai Steel USA Corp holding a 50% stake, while POS-Louisiana Inc, Hyundai Motor America, and Kia America will hold 20% and 15% stakes, respectively.
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