More than 100 jobs are to be created at a steel fabrication company.
William Hare plans to invest £10m at its site in Risca, Caerphilly, with an additional £350,000 provided by the Welsh Government.
The company plans to create the new jobs over two years at the site, which currently has 23 employees.
Economy Minister Ken Skates said the company would expand facilities, improve manufacturing capabilities and create apprenticeships.
The company, which provides engineered steel for construction projects, currently employs 1,700 people worldwide.
Mr Skates said: "As a government, we have demonstrated over many years how we are a steadfast supporter of the steel industry and today's announcement is proof of that".
The company's chief executive David Hodgkiss said: "The acquisition and investment of the Risca facility will continue to improve productivity, meeting our clients' needs through creating local jobs and supporting other businesses in the area."