Promzhilstroy Open Joint-Stock Company appeared as the result of transformation of Promzhilstroy Republican Unitary Affiliated Enterprise of MPO Khimvolokno Republican Unitary Enterprise according to the Order of Amalgamation #853 of December 13, 1988. Promzhilstroy Republican Unitary Affiliated Enterprise was in its turn founded on the base of the existing department of MPO Khimvolokno.

The Construction and Erection Department, which was primarily founded for building dwelling houses for the employees of MPO Khimvolokno, turned into a modern and multifunctional enterprise – Promzhilstroy Open Joint-Stock Company. Belarusian State Concern for Oil and Chemistry has property rights for the company's assets.

The company carried out major and permanent repair works at the chemical facilities: Mogilevkhimvolokno JSC, Naftan JSC and ZIV JSC. It also took park in the construction and reconstruction of an engine yard and a hog farm in the villages Gostilovichi and Avgustovo of the agricultural complex "Logoyskiy", and six patrol stations. There were put into operation objects of Mogilevkhimvolokno JSC:

  • mylar production unit with the capacity of 80,000 tons per year,
  • a strap production line,
  • a fire-hose production line ZOS DNT-4,
  • and other.

Promzhilstroy JSC developed further its lines of activity. There were built more than 400 units of different purposes. The company constructed trade, industrial and social facilities. Among trading ones there was built trade centre "Magnit", "Panorama", "GIPPO", café "Santa-Maria" on the shore of Sviatoye lake; there was as well reconstructed restaurant "Lesnoy". A special building of Belinvestbank was constructed in 1999, and an annex to the building of the public prosecutor's office – in 2002.

For many years of company's activity, there have been put into operation 216 000 sq. m. of dwelling houses, there were built 3318 apartments and one-room houses. There have been built the following cultural and social facilities:

  • Music and Educational Centre in 1995;
  • Mogilev branch of the Law Institute in 2001;
  • the Chapel "Monument to the International Soldiers" in 2002;
  • the Memorial centre "Buynichi Field" in 2004;
  • Ethnographic museums "Belarusian Village", "Town of Masters" in the Buynichi village in 2005.

The City Hall, an important monument of architecture was restored in 2008.

Today Promzhilstroy OJSC builds social and cultural, municipal and industrial facilities. The company carries out finishing, ventilation, electric installation, adjustment, laying and territory improvement works. The company operates departments producing woodwork, concrete and metal goods, motor transport and monkey-wrench. The maintenance department services load lift machines and labour-saving tools. Such structure allows carrying out 80-90% of construction works without any outward assistance.