A South West-based leader in marine engineering has signed an agreement to build new premises at Osprey Quay on Portland enabling the business to grow, potentially creating up to 20 new jobs.

Specialised Technologies Group Limited, which is currently located in Weymouth, has agreed terms with the South West Regional Development Agency (RDA) to build 25,000sq ft of commercial engineering and office space.

The company has been working with South West RDA and Weymouth & Portland Borough Council for some time and detailed plans for the new facilities have already been approved by the Borough Council. Construction is due to begin in September and completed by Christmas 2010. The South West RDA bought Osprey Quay, a former Royal Navy Air Station, in 2000 and is investing around £40 million to create a centre for marine business and leisure activity.

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The private-sector investment in this new workspace is worth more than £3 million. Once completed, the company, which currently employs 19 full-time members of staff, aims to create up to 20 new jobs.

Alison Hatcher, Head of Regeneration for the South West RDA in Dorset, said: "This is fantastic news and a real endorsement of Osprey Quay's potential as a high quality business location for marine industries. The future growth of the marine sector in the South West is hugely important and the commitment by Specialised Technologies Group Ltd to develop and invest in its business in the region is very welcome particularly during these difficult times.

"With the continuing regeneration of Osprey Quay, the Agency is firmly committed to the future creation of skilled jobs and unlocking the business potential of this world-class site to attract other marine related companies."

(CD/BMcC)