The first two plants will be built at the Advanced Manufacturing Park on the Sheffield-Rotherham border.

One of the factories will produce internal components for the next generation of Britain’s nuclear power stations.

The other will produce high-tech turbine blades for jet aircraft engines around the world.

Planning applications to be submitted to Rotherham Council next month also include the possibility of a third plant, potentially allowing the firm space to expand in the future or offer accommodation to one of its key suppliers.

Angela Smith, MP for Penistone and Stocksbridge, said: “This is very positive news, and will give a much-needed boost to the local economy – particularly because it would be investment in the kind of economic activity we need for long-term growth in the area.

“It would have huge knock-on effects for local manufacturing. I would now call on the Government to firm up its commitment to the civil nuclear industry.”

Rolls Royce will submit planning applications to Rotherham Council next month, and, if given the green light, is expected to begin construction early next year, with operations likely to begin in 2013.