SEOUL, Jan 26 (Reuters) - South Korea's Hyundai Steel (004020.KS) , opens new tab said in a ‌regulatory filing on Monday its affiliate Hyundai-POSCO Louisiana LLC plans a capital increase worth $2.9 billion for facilities investment in a US steel ‌plant.

The move follows Hyundai Steel's announcement last year it and its parent Hyundai Motor (005380.KS) , opens new tab Group would invest to build a ‍steel plant in Louisiana, United States with an annual capacity of 2.7 million tonnes.

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Hyundai Motor Group had ⁠also signed a memorandum of understanding with ‍South Korean steelmaker Posco Holdings (005490.KS) , opens new tab for cooperation on its ‌planned ‌US steel plant.

Hyundai-POSCO Louisiana LLC is an U.S.-based subsidiary of Hyundai Steel USA, which is wholly owned by Hyundai Steel.

Hyundai Steel ⁠said it ⁠plans to finance the total investment of $5.8 billion with $2.9 billion in equity and $2.9 billion in external borrowing, meaning ‍that the equity ownership will comprise Hyundai Steel USA Corp with a 50% stake, POS-Louisiana Inc with 20%, and Hyundai Motor ‍America and Kia America with 15% each.

https://www.reuters.com/world/asia-pacific/south-koreas-hyundai-steel-says-plans-29-bln-capital-increase-us-steel-plant-2026-01-26/