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An estimated 1,500 shipbuilding jobs will be safeguarded and another 450 could be created if a DTI aid package helps Cammell Laird win a contract to build two cruise liners.
The DTI had previously offered $300 million in guaranteed loans to underwrite a contract with US company Luxus and has now increased this by another $100 million.
The improved offer was submitted in response to a financial aid package put forward by the French Government to try and secure the contract for France.
A spokesman for Cammell Laird told Personnel Today that if Luxus chose Cammell Laird to build the cruise liners, 500 jobs at its Liverpool yard and 1,000 at its Teeside and Tyneside yards would be safeguarded.
He said that 450 workers laid-off by the company before Christmas could also be employed.
By Ben Willmott
