More than 160 years ago, the firm started out as a blacksmith and boat builder and now offers a wide range of specialist services including project management and engineering for the island’s supply chain.
The slipway enables the business to provide critical services to the local fishing fleet, the inter-island ferry fleet as well as aquaculture and energy companies.
HIE's funding will help towards the cost of purchasing and installing equipment including a new 500 tonne winch system that will help increase the slipway’s capacity to support larger vessels, continue to service their key customer base and help attract new customers.
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The project will enable the company to adapt to the changing market conditions and support its long-term ambition to re-purpose and expand the overall size and capacity of the slipway.
Malakoff Ltd is a major employer in Shetland, currently employing 94 staff. As well as creating two new high-quality jobs, the project will enable three skilled jobs to be retained at the firm.
Andrew Gear, head of business growth at HIE’s Shetland area team, said: "The slipway is a critical piece of infrastructure for Shetland’s marine industries. This project will enable more locally based vessels to be serviced in Shetland, reducing the volume of vessels steaming to mainland Scotland for routine repairs and services, lowering carbon emissions. As vessels increase in size and weight it is becoming ever more critical to have this capability in the local supply chain. We are very pleased to be able to provide support and look forward to continuing to work with Malakoff Ltd as they implement their plans."
Ryan Stevenson, contracts manager at Malakoff, said: "We are keen to ensure that our range of services meets the requirements of local industry and we are very grateful for HIE’s support in the development of this project."
