“CHITTAGONG VEGETABLE OIL INDUSTRIES LTD.” was established at Nasirabad Industrial Area, Baizid Bostami Road, Chittagong, Bangladesh in the year 1984 and later on it was converted into Public Limited Company under the dynamic leadership of Alhaj Mowlana Mohammed Younus, BA, FM. The Company manufactured edible oil in the brand of “PHULCOPY”. Annual production capacity of the project was 20,000 MT per year and Vegetable Clarified Butter in the brand of “GOLD CUP” with a production capacity of 11,000 MT per year.
Side by side the sponsors of the Company had been running their original Petrol and Lubricants business through a petrol pump set up long before 68 years. Since the Sponsors gained wide experience in Fuel and Lubricant business through their running of Filling Station since 1947 which is known as “M/S ALHAJ MD. YOUNUS & CO” till to date.
Mr. Shamsul Alam Shamim has become the Chairman after the depart of his father Alhaj Mowlana Mohammed Younus. The new chairman has conceived an idea by diversifying the existing Edible Oil Plant to Condensate Fractionation Plant. Energy & Mineral Resource Division of the Govt. of Bangladesh permitted to setup Condensate Refinery in the name of “CVO PETROCHEMICAL REFINERY LTD.” by using Natural Gas Condensate (NGC).
After successful installation of the machinery, obtained necessary permission from different government & semi government organization, “CVO PETROCHEMICAL REFINERY LTD.” has started its Production from 2nd April 2014.
On the same time Bangladesh Securities Exchange Commission (BSEC) has changed the company’s business category from Food Sector to “Fuel & Power Sector”.
In the meantime Company awarded with 05 years Tax Holiday by National Board of Revenue (NBR) of Government of Bangladesh. .