FERGUSON’S ship yard will be one of the "most productive and effective in Europe" within 10 years according to the man who saved it from closure.

With the announcement of being named preferred bidder for two ferries, the yard has not only secured the current workforce of around 150 but will allow it to increase to more than 400.

Jim McColl, whose firm took over the liquidated yard one year ago, said the contract allows his team to proceed with the vision of a successful commercial shipyard.

He said: “The announcement gives us a solid cornerstone to move forward with the plans.”

He said Ferguson’s is also bidding for other ferry contracts and off shore support ships to bring even more work to the yard.

He said: “We have a five year plan in place and at the top end we would have 1300 people in the yard.”

Looking further into the future there are plans to recruit 100 to 150 apprentices to ensure the necessary skills are available in the future.

He said the plans include a new fabrication hall so that 85% of work will be done under cover a reversal of the current situation.

He said: “Ten years from now we will have a completely new redeveloped yard. A 21st century shipyard as productive and effective as any in Europe.”

The ferry contract is the first big step in realising his vision for the Port Glasgow yard.

He said: “I knew there was a good demand for this type of vessel and very few places in the UK to build them.

“I saw a very good business opportunity as well as the motivation of the sentimentality of reviving the shipbuilding industry on the Clyde.”

The deal once finalised is hoped and expected to be the springboard to the Ferguson yard’s revival and future success.

As reported in later editions of the Evening Times yesterday, First Minister, Nicola Sturgeon made the announcement the yard in Port Glasgow was the preferred tenderer to build the two dual fuel ferries for Caledonian Maritime Assets Ltd (CMAL) for the Caledonian MacBrayne fleet, worth almost £100m.

One of the ferries will sail on the busy Ardrossan to Arran route and the other in the Uig triangle route of Skye, Harris and North Uist.

The ships, which will carry 1000 passengers and almost 130 cars, will be the biggest commercial vessels built on the Clyde in more than 15 years.

The deal will secure the current jobs and lead to more being taken on as Mr McColl and his team plan to grow the yard with investment and expansion plans in the future to build even bigger ships.

Local politicians were delighted with the news, hoping it will see even more people employed in the Inverclyde yard and provide a boost for local businesses in the supply chain.

Duncan McNeill, Labour MSP for Greenock and Inverclyde, said councillors, MSPs and MPs have been working to support the owner’s vision for a reborn Ferguson’s.

He said: “When I met with CMAL earlier in the summer I was informed that Ferguson’s were working flat out to secure the contract.

“They deserve huge credit for all the work they’ve put in.

“I hope we can keep the momentum going and build on this latest success.

“In July, Jim McColl announced that he had scouted Inchgreen dry dock as a potential shipyard.

“I’m working alongside local MP Ronnie Cowan and the leader of Inverclyde Council Steven McCabe, to see what can be done to make this significant opportunity become a reality.

“We are currently seeking further meetings with Jim McColl and Peel Ports in order to move things forward”

The work will secure the current 150 jobs at the site which was at risk of closure until Mr McColl took it over when the Scottish Government set up a task force to find a buyer.

The businessman has been praised for his vision and confidence in the yard and its workforce.

Ronnie Cowan, SNP MP for Inverclyde, said: “Having recently visited the yard I know how much of a boost this will be for the workforce, the Inverclyde community and obviously the future of the yard.

“Hopefully, this can work as a catalyst to promote Inverclyde and a springboard for further contracts for Ferguson Marine.

“This announcement is just reward for the investment that has been made so far and hopefully a signpost to a continuing involvement in the local community.”

The quick turnaround has been noted for the yard which instead of celebrating success could have been lying empty had a buyer not been found after it went into liquidation in the summer of last year.

Final contract negotiations will take place between Ferguson’s and CMAL in the coming weeks.