South Korea-based Hyundai and President Donald Trump announced a $20 billion investment in US on-shoring on Monday, which includes a $5 billion steel plant in Louisiana, at the White House Monday.

The $5.8 billion Louisiana facility will be the car manufacturers’ first steel manufacturing facility in the US and will produce more than 2.7 million metric tons of steel a year and create more than 1,400 jobs. It will supply steel to auto plants in Alabama and Georgia, Trump said in remarks at the White House.

The announcement this afternoon at the White House included Trump, Hyundai Chairman Euisun Chung and Louisiana Governor Jeff Landry.