Major Loan Agreement Secured by Yen Hung Petrochemical., JSC (E1 Terminal) to Pioneer Northern Vietnam's First Refrigerated LPG Terminal

Hanoi, Vietnam -  April 12, 2024 - Yen Hung Petrochemical., JSC (E1 Terminal) announced a significant loan agreement facilitated by prominent international financial institutions including Shihan Bank, Woori Bank, KEB Hana Bank, and led by the Korean Development Bank. The term loan facility secured up to 160 million USD for E1 Terminal to build the first refrigerated LPG terminal in northern Vietnam. 

“We recognize the strong demand and immense potential of the LPG market in Vietnam, and so did the international financial institutions. This project aligns with our focus on investing in sustainable development in desirable communities like Quang Ninh, Vietnam”, said Park Heungsoo, CEO of E1 Terminal. “This project epitomizes our commitment to fostering sustainable growth in promising regions such as Quang Ninh, Vietnam”.

About Yen Hung Petrochemical., JSC (E1 Terminal)

Yen Hung Petrochemical., JSC (E1 Terminal) is a joint venture between E1 Corporation - a leading energy conglomerate based in Korea, and esteemed Vietnamese investors. E1 Terminal is developing the first refrigerated LPG terminal in northern Vietnam with a total capacity of 176,400 m3 and a total investment of 200 million USD. 

Scheduled for completion in Q4/2025, the refrigerated LPG terminal is expected to supply more than 1 million tons of LPG every year, further cementing its pivotal role in Vietnam's energy landscape.