POSCO Holdings Invests $582 Million for Minority Stake in Hyundai Steel Louisiana
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POSCO Holdings is investing $582 million for a 20% stake in Hyundai Steel Louisiana LLC as part of a joint venture to build an electric arc furnace steel mill in Louisiana, USA. The investment aims to enhance POSCO's presence in the North American steel market and support sustainable automotive steel production. Payments will be made in stages, completing by 2027, with a special purpose company, POS-Louisiana, established in Delaware to facilitate the investment.
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