Scottish Enterprise is to contribute £11.7 million towards Aberdeen Harbour’s £350 million expansion, supporting the creation of 2,300 jobs by 2026.

SE funding is in addition to support from the European Investment Bank, which is providing a loan of up to £175 million, and support of up to £11 million from Aberdeen City and Aberdeenshire Councils via Aberdeen City Region Deal.

The project, due to be completed in 2020, will provide enhanced facilities and capacity to the oil industry and help capitalise on Scotland’s growing cruise tourism and renewables markets.

Visiting the harbour, First Minister Nicola Sturgeon said: “Aberdeen Harbour is Scotland’s main oil and gas port and one of Europe’s leading marine support centres for offshore energy.

“This funding will open up significant opportunities to diversify and exploit the rapid growth in cruise tourism and the renewables markets in Scotland.

“We are already seeing Scottish-based firms seizing decommissioning opportunities, and we are committed to supporting Scottish industry to win further valuable contracts.

“That’s why we developed a Decommissioning Plan last year, and have since launched the £5 million Decommissioning Challenge Fund.”

Scottish Enterprise director of energy Maggie McGinlay said: “The Aberdeen Harbour expansion project is strategically important to the growth of Scotland’s economy.

“A recent impact assessment study confirms the project will not only help sustain growth in the oil and gas sector, but will also help to maximise opportunities from the growing cruise tourism and renewables sectors.”

Aberdeen Harbour chief executive Colin Parker said: “This funding is immensely significant.

“It further demonstrates recognition of this strategic project as one of national and international importance.

“The facilities developed will transform the port’s ability to accommodate the trend for larger vessels we are witnessing across a whole range of industries, thereby encouraging commercial diversification and future-proofing the port’s ability to support large scale marine operations.”