The contractor is investing in extensive training and development of its staff over the next three years, as well as a new one-stop-shop service for engineering solutions. In addition, 21 jobs will be created including in production, inspection, stores, marine, and additional apprentices.
Highlands and Islands Enterprise (HIE) is contributing £420,000 towards the expansion.
Managing director, John Henderson, said: "By providing an innovative one-stop-shop for engineering services, we will be able to offer a single source efficient and cost effective solution to clients. We also plan to further expand our work offshore and internationally.
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"This will benefit new and existing customers in the renewables, utilities, marine, decommissioning and the oil and gas industry. The modern digital system will help us improve budgeting and cost controls within the organisation, which will increase efficiencies and reduce waste.
"We are delighted that HIE is supporting us to invest significantly in training and development of staff which will ensure that we are well placed to compete for work and support for our new management system which will be key to success.
"It also helps us to capitalise on new emerging market opportunities in the renewables and decommissioning sectors which are increasing and in which Shetland will be a key player in the near future."
Katrina Wiseman, head of Business Growth from HIE's area team in Shetland, added: "There are so many engineering opportunities in Shetland, the UK and around the world, and to convert these into real business, Ocean Kinetics will power on with this latest project. The company has a great reputation in the industry and we will continue to work with them to deliver that ambition for the benefit of Shetland as well as Scotland."
(LM/MH)
