The state buys land for planned Hyundai steel facility in Ascension

The industrial tract planned to be the site of Hyundai’s $5.8 billion steel manufacturing facility has been purchased by the state of Louisiana.

Germania Plantation Inc. sold the property, which comprises more than 1,700 acres along the Mississippi River, to the state for approximately $91 million, according to a deal filed this week with the Ascension Parish Clerk of Court’s office.

Marshall Rice of Beau Box Commercial Real Estate brokered the deal for the seller. Taylor Barras represented the state in the agreement.

Hyundai Steel plans to build a next-generation, ultra-low carbon electric arc furnace steel mill in Ascension Parish near Donaldsonville. The project marks Hyundai steel’s first U.S.-based production facility and will supply steel to its American automotive manufacturing plants. The development is expected to create more than 1,300 direct jobs while strengthening the domestic supply chain.

Construction is scheduled to begin in 2026, with completion anticipated around 2029.