News Summary

• The factory will make components for off-shore wind turbines.
• It is to be run by engineering firm Subsea Micropiles following a £5m investment.
• A further £6.7m is being provided by the state-owned Scottish National Investment Bank, with Scottish Enterprise also pledging £1.45m.
• First Minister John Swinney said it would help ensure "benefits of the energy transition are retained in Scotland" The Port of Montrose has also been selected as the preferred base for a major offshore windfarm project.