Penzance Dry Dock secures £2m towards major refurbishment

Penzance Dry Dock will undergo a major refurbishment after securing £2m. The oldest operational tidal dry dock in Europe was acquired in 2021 by Jamie Murphy, a former Royal Navy marine engineer, after facing closure.
Mr Murphy, whose grandfather worked at the dock for 45 years, is hoping to transform the facility from a repair business to a shipbuilding company, training up apprentices in the trade.
He secured the cash injection from the Cornwall and Isles of Scilly Good Growth Programme towards a £4m upgrade of the business.
The revamp includes an overhaul of the dry dock gates, which is already completed, and a new pumping system that can empty the dock of 4,500 cubic metres of water in an hour instead of six.
There will be seven new cranes, including five gantry cranes inside, plus a 10-tonne jib crane outside and a 50-tonne Goliath crane rising 20m over the dry dock,
Recommend
'Success isn't hidden formula', says pension app founder after raising £1.8m
2025-03-29 00:40:48
2025-03-29 00:40:48
New crypto platform Bitpanda to launch in the UK after winning FCA approval
2025-03-29 00:40:48
2025-03-29 00:40:48
Venture capital investment in South West firms soars 82%
2025-03-29 00:40:48
2025-03-29 00:40:48
Cornwall firms land share of £5m for offshore wind projects
2025-03-29 00:40:48
2025-03-29 00:40:48
UK's oldest lido to remain shut after flooding damage
2025-03-29 00:40:48
2025-03-29 00:40:48
Government to continue funding South West powerhouse - despite plans to scrap similar initiatives elsewhere
2025-03-29 00:40:48
2025-03-29 00:40:48
Rachel Reeves' National Wealth Fund backs Cornish tin mining project
2025-03-29 00:40:48
2025-03-29 00:40:48
Bristol fintech Moneyhub appoints new chief executive
2025-03-29 00:40:48
2025-03-29 00:40:48
Tyneside pharma firm Shield Therapeutics seeks to raise $10m through subscription by largest investor
2025-03-29 00:40:48
2025-03-29 00:40:48
New bank NW Mutual plans 60 branches as it wins key council backing: full list of proposed locations
2025-03-29 00:40:48
2025-03-29 00:40:48