A £6million investment that will see new lock gates installed at Milford marina was given the green light this week.
Contracts have been let for the installation of new lock gates in Milford Docks, laying the foundations for the wholesale redevelopment of the area.
A further £1.5million will also be spent on ship building operations in Pembroke Dock, which the Port of Milford Haven hopes will attract firms within the growing renewable energy industry.
The investment plans, which follow last month's announcement of falling profits at the port, were developed over the past two years and aim to encourage tourism along the Welsh coastline.
Port chairman David Benson said: "Over the past three years the port has built up its resources and developed a clear strategic focus in respect of each of its core assets.
"These major investments announced today represent the beginning of a new period of investment to develop the Port of Milford Haven into a stronger and more diversified business, with a particular emphasis at Pembroke Port on the role it will play as a core port location to meet the needs of fabricators, suppliers, and operators within the increasingly diverse world of energy.
"The Port is well funded and is in a strong place to continue its commercial development as the strategy continues to unfold.”
The dock lock development is part of Visit Wales' Coastal Tourism Project, part-funded by the European Regional Development Fund through the Welsh Government.
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