The family-owned group has ordered six emergency response and rescue boats from the Balenciaga Shipyard in Spain in a move directors said underlined the company's ambition to remain a significant force in the marine industry.
Douglas Craig, chairman and managing director of Craig Group, said: "This significant investment is part of our continued drive to operate the largest and most modern wholly British owned fleet engaged in the UK offshore industry."
He added: "A new-build programme of this size and scale underlines our commitment to the marine industry."
The order will help Craig capitalise on booming oil and gas activity in UK and Norwegian waters, where firms are trying to boost output to meet strong global demand for energy.
Oil and gas firms are spending billions of pounds bringing giant new fields onstream and trying to boost output from existing facilities. This has led to increased demand for services provided by firms like Craig Group.
"Trading throughout 2013 has been strong with several large contracts secured and we are looking forward to a healthy remainder of the year," said Mr Craig.
In June the group's North Star shipping operation won a five-year support services contract extension from BP worth £63m.
The deal involves North Star supplying BP Platforms and operating emergency rescue vessels in the North Sea.
Asked why the company chose to have the boats built in Spain, a spokesperson for Craig Group said the order for the new vessels was based on an existing contractual arrangement it has with the Balenciaga Shipyard. The new vessels will be sisters to other boats built by the yard that are already in service with Craig in the North Sea.
The new ships will carry smaller Daughter and Fast Rescue boats that can be used to provide a speedy response.
Separately, Aberdeen-based Can Group said it had won a £90m multi-year contract to provide inspection services for Talisman Sinopec Energy UK.
This was formed in July last year when China's Sinopec bought a 49% stake in the UK North Sea operations of Canada's Talisman for $1.5bn.
Can Group will provide inspection services for 11 offshore installations and an onshore terminal on Orkney operated by the venture.
Talisman Sinopec Energy UK chief executive, Geoff Holmes said: "The North Sea holds the promise of a thriving energy industry for many decades to come and this places a strong emphasis on the importance of investment. We are committed to making that investment and to unlocking the potential within this sector."