The company is to make Inchinnan, near Glasgow Airport, a Centre of Competence for making aerofoils and engine shafts.
The specialist unit will provide parts for aero-engines which have gone out of volume production, meaning it requires flexible skills in making bespoke items.
It is expected that 130 roles will be created.
The company said this would partly offset the loss of almost 190 jobs announced in March.
While Rolls-Royce has faced big challenges in adjusting to market changes, with repeated profit warnings, it is consolidating its operations.
It currently has 54,000 employees in more than 50 countries, making and servicing aero-engines for airlines, ships and military use. Last year, it had turnover of more than £14bn.
Mike Mosley, chief operating officer for the supply chain division at the Derby-based firm, said: "Our investment in Inchinnan demonstrates our commitment to innovative technology and world-class facilities which will improve performance and drive profitable growth for our business.
"We recognise the dedication and flexibility of the Inchinnan workforce who continue to play a key role in the success of Rolls-Royce."
Rolls-Royce initially invested £85m in the Inchinnan plant.
In a statement, the company said the investment would "potentially" offset the impact of job reductions announced earlier this year as part of the restructuring of its aerospace division.
Renfrewshire Council said the investment was a "vote of confidence" in the Inchinnan plant.
Council leader Mark Macmillan added: "For a world-leading manufacturer to choose Renfrewshire as a focus for further investment is also a tremendous boost for the Renfrewshire economy.
"Renfrewshire has a proud engineering and manufacturing heritage and Rolls-Royce has been at the forefront of that."
In March, Rolls-Royce announced that it was going to shed 187 of the 700 jobs at Inchinnan.
More jobs were to go at its East Kilbride plant, where it services and repairs small and medium-scale engines.
That older plant is to close by the end of the year, as 630 staff are moved, in phases, to the Inchinnan site.

Hooker Tom Holmes returns for Tigers, who secured a top-eight place by beating Catalans in their last game.
Warrington half-back Kurt Gidley returns in the only change to their squad from the win over Salford.
Wolves, who have won four of their last five games at home, have already guaranteed a top-four finish when the Super 8s begin.
Castleford (from): Chase, Cook, Crooks, Dorn, Gale, Hampshire, O Holmes, T Holmes, Maher, Mariano, McShane, Millington, Milner, Minikin, Moors, Patrick, Solomona, Springer, Tickle.
Warrington (from): Atkins, Bailey, Clark, Currie, Dwyer, Evans, Gidley, Hill, Hughes, G King, T King, Lineham,, Penny, Ratchford, Russell, Sandow, Sims, Westerman, Westwood.
Referee: Chris Kendall.

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Rolls-Royce, the engine and turbine maker, is to invest up to £60m in its Renfrewshire manufacturing plant.
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Nathan Massey requires surgery to fix a long-term scaphoid problem and is unavailable for Castleford.
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