The initiator of the project - Sergei Berezov - gained experience in the sale of rolled metal products in the 90s.
In 2004, he came up with the idea of creating his own mini-metallurgical plant.
Given the location of metallurgical enterprises, the cost of electricity and a number of other factors the city of Ivanovo has been determined for the construction of the plant.
Together with the consulting company Finematica, a business plan for the project was developed.
At the first stage, it was supposed to produce square billets, at the second - long products.
As part of the preparation of the business plan, it became necessary to study the market for the availability of raw materials - scrap metal.
Finematica hired the Industrial Information Agency as a market research contractor.
A study in 2005 showed that the Ivanovo region and neighboring regions were provided with scrap, which corresponded to the needs of the mini-metallurgical plant that was being created.
In 2006-2008, having pledged his personal property to an investor, Berezov received funding for the design and construction of the plant.
August 7, 2008, together with the governor of the Ivanovo region, Mikhail Men, laid a capsule for the construction of the Volga Electro-Metallurgical Plant. in the Ivanovsky district.
In the autumn of 2008, the economic crisis began, so construction was frozen for some time - only on September 4, 2013, the technological start-up of the first stage of the enterprise took place - the production of construction rebar from a square billet.
On March 21, 2014, a certificate was issued stating that the products meet the established requirements.
Since 2014, work has been underway to build the second stage of the enterprise.