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CVO Petrochemical Refinery Limited (CVOPRL) is one of the leading non-govt. Petrochemical Refinery Company who are producing import substitute Fuel products for the country. This is the only public limited company in Bangladesh among other private condensate fractionation plants. It has started commercial operation from April 02, 2014.
The Company is potential because the raw materials used by the company are procured from Government & also the finished products are sold to Bangladesh Petroleum Corporation (Govt. petroleum marketing company). The main product of the Company is MS (Motor Spirit), HSD (High Speed Diesel), MTT (Mineral Turpentine).
Previously CVO Petrochemical Refinery Limited (CVOPRL) was known as Chittagong Vegetable Oil Industries Ltd. which was established as a Private Limited Company as per Registration No. C- 13342/919, dated: December 09, 1984 and later on it was converted into a Public Limited Company dated: February 03, 1988 under the leadership of Alhaj Md. Younus, BA, FM with his sons and daughters as Directors and Sponsors. The Company was listed under Dhaka Stock Exchange (DSE) in 1990 and first trading date was October 25, 1990. Thereafter the Company was listed under Chittagong Stock Exchange (CSE) in 1996, first trading date September 15, 1996. The Company started Commercial operation by producing and marketing Phulcopy brand Soybean oil which gained much popularity amongst the edible oil consumers. After running the edible oil factory smoothly for several years the Company has given satisfactory dividend to the investors and then a setback occurred in the edible oil industry as a result of a hike in the price of raw material in the international market. To overcome the situation Mr. Shamsul Alam Shamim, the worthy son of Alhaj Md. Younus became the new Chairman after demise of the founder Chairman. As the Chittagong Vegetable Oil Industries Ltd. was facing continuous trading loss the dynamic leader and honorable Chairman of the Company Mr. Shamsul Alam Shamim thought seriously about the greater interest of the shareholders who were holding up their investments in the Company despite not getting any dividend for long time. Since the Sponsors acquired wide experience in Fuel and Lubricant business through their running of Filling Station about 70 years, the present Chairman Mr. Shamsul Alam Shamim conceived an idea of diversification of the existing edible oil plant to Petrochemical Refinery Plant by using their expertisein Petroleum business. Thereafter the Management of the Company thought it viable to demolish the edible oil factory and set up a Petrochemical Refinery Plant, a highly profitable business for the greater interest of the shareholders.