The project includes the building and operation of a pulp mill, paper mill, saw mill and renewable energy plant in Cromarty Firth, which could create up to 500 new jobs.

A spokeswoman for the company said the final touches were being put to the plan, which will then go out to potential investors in the open market.

The firm is also awaiting the final results of a feasibility study into the project, the results of which are expected in the next two to three weeks.

The plant will use Sitka Spruce trees, grown in Scotland and northern England.