Meyer Turku, the Finnish shipbuilder, says it has decided to build a warehouse for steel and a facility to prepare the steel for ship construction.

This is the third investment that the German owned company has unveiled this year, the previous ones being the acquisition of a second gantry crane at the shipyard in Turku and upgrades to its cabin module factory at Pikkio, some 10 miles from the city.

The company has now decided to invest a total of €75 million to upgrade and expand its facilities and the now unveiled investment will be completed in 2017.