The development will see the building of a new 170-metre-long quay at the north side of the harbour.
The project is due to be completed by September, 2014.
John Paterson, the Port Authority’s chief executive, said: "The work will improve the access to the North Quay by providing it with a more modern and suitable structure with deeper water. It will make possible the more efficient use of the quay for imports and exports of fertilisers, wood pulp and recycling materials.
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"They already use the North Quay but are subject to disruption. The upgrade will mean more trade in and out of the port.
"The new owners of the fertiliser blenders, Koch Industries and Origin Fertilisers, recognise the geographic significance of Montrose as yielding an opportunity to increase their throughput."
A recent £8.5m extension of the South Quay has resulted in increased traffic in the oil and gas sector and grain exports from the recently completed silos.
Annual tonnage has grown from 1.4m to 2m tonnes.
The Port is now also dealing with new cargo in the form of sections of wind turbines, doubtless due to the SNP’s focus on renewable energy in Scotland.
Traditional cargo such as fertilisers, wood pulp and timber continue to be a familiar sight at the Port.
(IT/GK)
