Oceaneering has unveiled an USD 23.5 million (GBP 15.2 million) investment into a new facility at its base in Rosyth, which will allow the company to dive into the offshore renewable energy market, the Scotsman informs.
The American-based company plans to construct a larger storage space where it will hold cables for offshore wind farms or wave and tidal power devices.
Oceaneering already makes umbilical cords at the Fife factory, which are usually 15 to 20 kilometres long and are used to connect oil rigs to wells on the seabed.
The company has similar manufacturing facilities in Brazil and Florida. However, the Scotland-based factory primarily provides services to clients in the North Sea, the Mediterranean, western Africa and south-east Asia.
The expansion is expected to create more jobs over time as the production grows.
Besides, Oceaneering has its main umbilical research team based in Rosyth. They are using new materials to prolong the life of the cords to 40 years.
Subsea World News Staff , June 19, 2012; Image: Oceaneering