The shipbuilding factory is one of the oldest enterprises in Tyumen. It was founded on June 5, 1928. However, the assembly of ships began much earlier. Back in 1923, the Baltic Plant in Leningrad received an order for the manufacture of parts for two lighters with a lifting capacity of 2,340 tons. Finished parts and individual components were sent to Tyumen by rail. On September 6, 1923, the assembly of ships began in Tyumen.
At the end of June 1924, the lighters were handed over to a representative of the Committee of the Northern Sea Route. The first vessels built in Tyumen allowed to increase the turnover of goods by 2-3 times.
The next assembly began to be made only two years later. In 1926, the workers of the Baltic Plant began manufacturing parts for the second order.
On September 2, 1926, the tugboat "M. Frumkin", with a capacity of 1,500 horsepower, was laid on the stocks in Tyumen. It was put into operation on July 27, 1928.
Over the next few months, large workshops were erected in the area of the modern union bridge. In total, the Tyumen shipyard occupied an area of 42 hectares. By the end of the first five-year plan (1929-1932), the Tyumen shipyard launched 15 steamships, 37 lighters and barges.