The creation of the mall followed a process of decentralization of commercial activity in Ipatinga, which had registered a considerable rise in the city center between the 1980s and 1990s. Intermall also managed other shopping centers in Minas Gerais, such as Itaú Power Shopping in Contagem and Shopping Cidade in Belo Horizonte, but sold a large part of its representation to a Canadian firm, subsequently restricting its activities only to the Ipatinga mall. Consul's central warehouse was located there and used as a construction site, but got demolished before the mall's foundations were laid. The Shopping Vale do Aço project began in 1994, through a partnership between Intermall Empreendimentos e Participações, Fundação São Francisco Xavier, and Cooperativa de Consumo dos Empregados da Usiminas (Consul). According to SEBRAE, it is among the most recommended attractions to travelers by businessmen and professionals who receive business tourists in the Vale do Aço. In addition to its commercial importance, the shopping center is considered the largest leisure and entertainment facility in the Vale do Aço Metropolitan Area, its movie theater being the most relevant one in the region. It is among the largest in the state's countryside. The development was inaugurated on September 24, 1998, and is owned by Intermall Empreendimentos e Participações, configuring itself as the largest shopping center in the Vale do Aço Metropolitan Area and eastern Minas Gerais. Shopping Vale do Aço, also known as Shopping do Vale, is a shopping mall located in the Brazilian municipality of Ipatinga, in the state of Minas Gerais. Intermall Empreendimentos e Participações
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