Pendennis Shipyard is planning an expansion of its facility at Falmouth docks in the UK, according to online daily The Packet.
The expansion — which includes a 9m (30ft) height increase of its dry dock and two new sheds — will allow build capacity to be doubled.
In addition, a new hospitality suite, new crew quarters, six workshops and new office space will also be created.
"It is important that we upgrade our facilities if we are to be comparable to competitors in Europe," explains Ian Granville, Pendennis Shipyard's finance director. "It involves a substantial upgrade to the facilities at the site, and will also improve our support for our staff."
The plans have been presented to Falmouth Town Council and a second application — to create a new wet basin for yachts outside the yard — is set to be submitted in the coming months.
Spanning 23 years of boatbuilding experience, Pendennis Shipyard has completed 100 refit projects and 30 custom new-build yachts.
The company acquired Devonport Yachts, now known as Pendennis Plus, in February 2010, and in 2011 the firm opened a technical refit office in Palma to service superyachts.