Glasgow-based Malin Group, which is working with Scottish Enterprise, has commissioned an economic impact assessment on the 47-acre Old Kilpatrick site.

Land development and infrastructure consultants Peter Brett Associates found the Scottish Marine Technology Park would create 986 jobs, if fully realised, and add £125.4 million annually to West Dunbartonshire’s economy.

The construction phase of the project will also see more than 600 additional short-term jobs created.

The site, formerly the Carless oil facility, is land zoned for industrial use. It also has direct access to a deep-water channel via an 80m long deep-water quayside berth with heavy lift facilities.

The proposed development, which is in an advanced stage of planning with West Dunbartonshire Council, will see a £10 million remediation and regeneration of the contaminated land that is a legacy of the past oil refinery.

Bodies involved in a consultation on the project included Scottish Canals, West Dunbartonshire Council, Crown Estates, Marine Scotland, Scottish Natural Heritage and SEPA.

Malin Group managing director, John MacSween, said: “The heritage of the Clyde is something of which we should all be rightly proud.

“We have been working in the shipping industry for over 100 years and have a passion for the river and its history, but there is a need to be looking to the future to ensure the long-term success of the Clyde as a maritime centre of excellence.”

Mark Newlands, regional head of partnerships at Scottish Enterprise, said: “We welcome Malin’s ambitious plans to revitalise this site and create much needed jobs in the West Dunbartonshire area. We look forward to working alongside the company to support its growth aspirations.”