The city council has approved £800,000 towards the project, which will see the 27,000 sq ft facility constructed at Clyde Gateway East Business Park.
The loan guarantee paves the way for Clyde Gateway to borrow £1million towards the costs of building the unit. The guarantee covers 80% of the amount that Clyde Gateway requires to complete the funding package which is also supported through Scottish Enterprise and the Scottish Government's SPRUCE (Scottish Partnership for Regeneration in Urban Centres) and RCGF (Regeneration Capital Grant) funds.
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Work on the unit is expected to get underway before the end of this year.
Councillor George Redmond said: "We are glad to support the development of a manufacturing and engineering unit of this size as we believe it would be a great asset for the East End – and indeed the whole – of the city. Once built, such a specialist facility will attract long-term jobs and investment to Glasgow, adding to the skills of the city's workforce and continuing the development of this industrial estate."
(LM/JP)
