The company concluded a new lease with the local authority, saying it was to expand its operations by a further three acres.
It is estimated the investment will create more than 100 new jobs and further increase production at its subsea manufacturing plant.
By 2016, the total workforce is expected to reach up to 250 – tripling GE's headcount at Montrose within three years.
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Angus Council's Economic Development spokesperson, Councillor Mairi Evans, welcomed the news, saying: "The port at Montrose has long been a favourite of the oil and gas industry with the convenient location and excellent facilities. This new investment by GE Oil and Gas will enhance the town's reputation within the industry and encourage more companies, from all over the world, to join us.
"The council has been working hard with the industry to attract local, national and international companies to the area. This recent news demonstrates the hard work of the council to attract international investment which is worth millions of pounds to the local economy and also create new jobs."
(JP/MH)
