The Ferguson shipyard, located in Port Glasgow, is to be upgraded and expanded, it has been reported.

Earlier this month, the business announced it was to close with the the loss of 70 jobs. Three bids were then submitted for the business. On Monday (25 August), Clyde Blowers Capital was named as the preferred bidder.

Speaking on BBC Radio's Good Morning Scotland programme, Jim McColl, founder and chairman of Clyde Blowers Capital, has now announced his plans for the future of the shipyard.

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He confirmed he planned to grow the workforce, where as many as 120 jobs could be created, while a number of improvement works would also be carried out.

He said: "The yard obviously needs quite a bit of investment in it. We do plan to invest, upgrade facilities there, and then to look at further work for the yard. This could be perhaps another ferry, but looking at maybe doing some oil and gas work or some other fabrication work.

"We can help bring some further business to the yard from the oil and gas industry in particular. We're also involved in renewables and I think there may be some work in that area in the future as well."

The sale of the yard is expected to be completed within 14 days, administrators KPMG have said.

(JP/MH)