Construction project of the Caspian flat glass was first announced at the VII International Investment Forum in Sochi, September 2008. The project was approved by Vladimir Putin within the exposition of the Republic of Dagestan.

Within the following 2 years the project was being elaborated, the risks were assessed. The crisis of 2008 – 2009 had its effect by provoking a more thorough evaluation of the project and increased the terms of coordination.

September 30, 2010 Vladimir Dmitriev the Chairman of Vnesheconombank's Supervisory Board meeting said that the Vnesheconombank (VEB) will invest more than 7 billion rubles in the construction of a flat glass plant in Dagestan (MOSCOW, September 30 - RIA Novosti).

The actual construction of the plant started in January 2011. A team of professionals led by the General Director Jeremy Martin Tyndall launched the first investment project within the last 20 years. The following partners took part in the construction of the plant: Palmira Group (Turkey) – general contractor;  HORN Glass Industries AG (Germany); Indotherm Furnaces & Engineers (India); Italcarrelli® (Italy); Premium Engineering; SCHITTKOWSKIARCHITEKTEN; Stewart Engineers (USA); VanBetra Projekt GmbH (Belgium); JSC "STEKLOAVTOMATIKA" (Russia); Art of Search; consulting group "Quorum" (Russia).

The plant was ceremoniously commissioned on 30 October 2013.

The first glass ribbon was pulled on 28 November 2013.

Since December 2013 the plant produces flat glass M1 under the trademark Caspian Crystal Clear.

The investment project Caspian flat glass was successfully implemented in the framework of public-private partnerships with the involvement of credit resources, "Vnesheconombank". According to the press service of the head of Dagestan, the total cost of the project is about 10.5 billion rubles.

In 2014 the plant sold 107 thousand tons of flat glass.

Client base with over 200 customers was formed during the year.

Since January 2014 to July 2015 the sales geography of CFG was extended from the borders of the Republic of Dagestan to the Trans-Baikal region of Russia. At present, the plant products are distributed throughout the entire territory of Russia, as well as for export to Kazakhstan, Ukraine, Azerbaijan, Georgia, Armenia, Turkey, Uzbekistan and Turkmenistan.

In June 2015 JSC "Caspian flat glass" took part in the 17th international exhibition "Mir Stekla-2015" held in "Expocentre" Moscow.