Ferguson eyes future in superyacht trade

ONE of Scotland’s richest men, Jim McColl, has unveiled ambitious plans to develop the Ferguson Marine shipbuilding business which he hopes could create more than 1,000 jobs at the firm by 2020.

The entrepreneur plans to expand the operation on the Clyde to serve new markets – such as refitting the kind of superyachts loved by the rich and famous.

Russian billionaire and Chelsea football club owner Roman Abramovich’s yacht, which has two helicopter pads and two swimming pools, was spotted recently on the Clyde off Greenock.

Mr McColl believes Port Glasgow-based Ferguson Marine could appeal to people who are being driven to buy overseas because the kind of vessels they want are not being designed and built in the UK.

He plans to invest £65 million upgrading the Ferguson yard to meet the expected demand.

His plans could result in Ferguson increasing employee numbers around ten-fold, to around 1,300 by 2020, from 140 currently.

After developing a series of successful engineering businesses through his Clyde Blowers Capital operation, Mr McColl acquired the former Ferguson Shipbuilders business out of administration last year.

The yard is building a f er r y f or C aledonian MacBrayne. It is also bidding to build two others which will be used to serve routes to the Hebrides.

Mr McColl bought the yard last September and re-employed all the 70 or so workers made redundant when the business went into administration.

He said then the yard could win work from oil and gas and energy firms.