Mr McColl — who rescued the yard from the scrapheap last year — has already secured a multi-million-pound order to build a new CalMac ferry.

Now the wealthy industrialist is gearing up for a fresh phase in his ongoing development of the Port Glasgow facility as he attempts to land contracts for two more ships.

An initial £8 million investment pulled Ferguson’s out of administration last September, dealt with losses and provided working capital for the business.

Around £4 million of that money was set aside to create new offices, build new cranes and put other infrastructure in place.

Mr McColl — who immediately re-hired Ferguson’s 70-strong workforce after taking control of the yard — is currently on course to increase that number to 120 employees.

His Clyde Blowers investment company is now reportedly ready to invest tens of millions of pounds in the business.

The yard is to build a £12.3m hybrid ferry for Scottish Government-run and Port Glasgow-based Caledonian Maritime Assets Limited (CMAL) — the custodian of the entire CalMac fleet.

Mr McColl has said that the workforce could rapidly increase to 400 if his relaunched Ferguson Marine Engineering successfully bids for a pair of huge 100-metre long ferries for CMAL.

The result of the bidding process is due to be announced this month.

It is understood that, apart from ferries, Mr McColl envisages a dynamic future for Ferguson’s across a range of sectors — including building oil and gas support vessels and offshore structures for that industry.

He has also declared that there is nothing to stop Scotland rivalling shipbuilders in Germany, Poland and Turkey.

This is despite the fact that such businesses in these countries can unlock state export financing which is not available in the UK.

Entrepreneur Mr McColl said: “They have an advantage, but we will find a way around it.”