A revised planning application will now be submitted within months with the plant due to be operational by early 2016.

The Green Port Hull project has been on hold since early 2011.

But Siemens confirmed today it will commit £160m to the scheme with Associated British Ports investing a further £150m.

The revised plan will be spread across two sites – the previously announced Green Port Hull project and a new rotor blade manufacturing facility in nearby Paull, in East Riding.

Prime Minister David Cameron said: “This is a massive vote of confidence in our long-term economic plan.

“This investment is going to create lots of new jobs and opportunities, meaning more financial security and peace of mind for families and a more resilient economy for our country.”

It will be the first manufacturing plant of its kind for Siemens next generation blade technology building blades which are 75 metres long and when rotating cover an area the size of two and a half football pitches.

Michael Suess, member of the managing board of Siemens AG and CEO of the Energy Sector, said: “Our decision to construct a production facility for offshore wind turbines in England is part of our global strategy: we invest in markets with reliable conditions that can ensure that factories can work to capacity.

“The British energy policy creates a favourable framework for the expansion of offshore wind energy. In particular, it recognizes the potential of offshore wind energy within the overall portfolio of energy production.”