A £10m investment in the Port of Dundee is expected to boost the city’s status as a major oil and gas decommissioning hub.

Forth Ports Ltd announced on Wednesday that it plans to make the largest investment in the history of the harbour to create a new quayside with “industry-leading heavy-lift” capability.

It will also create a large onshore operational base, which Forth Ports said “will position the Port of Dundee at the forefront of the North Sea oil and gas decommissioning and offshore wind sectors.”

The company said the new assets, coupled with a deep-water berth and 60 acres of land, will enable the port to handle the largest cargoes used in the emerging North Sea industry sectors.

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Charles Hammond, chief executive of Forth Ports, said: “This is an important, privately funded investment for the Port of Dundee which is ideally placed to service the needs of North Sea oil and gas, decommissioning and Scotland’s offshore wind sector over the coming years.

“The port’s existing skills base and location, combined with its riverside berths, deep water and rock river bed, put the port in a key position to become a hub for these sectors for construction, operations and maintenance and for decommissioning.

“Our investment also puts Dundee in a position to benefit from offshore renewable projects such as Neart na Gaoithe, which has the potential to deliver cost-efficient renewable energy and economic benefits for Dundee.

“We are committed to investing in the port to ensure that the infrastructure is in place to support these industries and for the city of Dundee to fully capitalise on the significant opportunities they present.”

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The new quayside will effectively add both berthing and land capacity at the Port of Dundee and, once complete, will represent a significant increase in port capacity in the north east region. The construction process will take a year and a half to complete, with work starting immediately.

Renewed interest in Dundee from the passenger cruise sector has led to an increase in visits by liners from six in 2015 to a planned ten in 2016, with further growth expected when the V&A Museum of Design opens in 2017.