The last commercial shipyard on the Clyde, Scotland, has secured grant to help safeguard 125 jobs and create a further 100. Ferguson shipyard has been awarded a £1m grant to refurbish its Port Glasgow premises and help fund new jobs.
Ferguson Marine Engineering Ltd (FMEL) received the grant from Scottish Enterprise which will boost the number of full time staff from 150 to 250 at Port Glasgow.
The Regional Selective Assistance (RSA) funding will contribute to Ferguson Marine's redevelopment of its premises and investment in new state of the art equipment.
Last month, Ferguson was awarded a £97m Scottish government contract to build two new ferries. The firm was saved from administration last year by Jim McColl's Clyde Blowers Capital.
Deputy First Minister John Swinney announced Ferguson Marine Engineering Limited (FMEL) had received a regional selective assistance grant from Scottish Enterprise.
The company currently has an order book worth £110million, which includes a £97million order for Caledonian Maritime Assets Limited (CMAL) to build two duel fuel ferries.