THE Dutch millionaire owner of Swan Hunter shipyard, on Tyneside, says he will sell it if the right bid came along.

Jaap Kroese said people had made inquiries about buying the yard in recent weeks.

The future of the yard and its workforce of about 250 is in the balance while the company awaits the Ministry of Defence decision, expected about Wednesday, May 17, on whether the yard can complete work on the Royal Fleet Auxiliary ship Lyme Bay.

Swan Hunter has shed many workers after completing work on the 16,000-ton Royal Fleet Auxiliary ship Largs Bay, sister ship of Lyme Bay.

Mr Kroese said there was possible interest in the Wallsend yard from Europe, but he would prefer any buyer to be from the North-East

"I want to sell the yard to someone who is serious about making it work, as a shipyard. I want to know the workforce will be secure," he said.

"Most importantly, I would not sell the yard to a developer who would flatten the place.

"That is what I saved it from in the first place. That is why I paid all that money and put in all that effort. I don't want to waste that by selling it to a developer.

"If there was somebody interested who could guarantee the yard's future, then I would sell."

Swan Hunter's future has been uncertain since it failed to win a share of a £4bn project to build two Royal Navy aircraft carriers.

It is awaiting an Environment Agency decision on its application for a licence to dismantle ships on the site.