"Fincantieri, China State Shipbuilding Corporation (CSSC) and Carnival Corporation & plc signed a binding Memorandum of Agreement (MoA) for the construction of two cruise ships, with an option for additional 4, the first units of the kind ever built in China for the Chinese market," Fincantieri said in a Wednesday statement.
The deal on the construction of the first two ships is worth around $1.5 billion, according to Fincantieri.
"It is not possible to maintain a competitive presence in the medium and long term without such a commitment. We therefore believe that today’s agreement is an example of industrial partnership that not only reaffirms our leadership in the cruise industry, but also creates a virtuous system among the two countries," Fincantieri CEO Giuseppe Bono said on Wednesday, as quoted in the company’s statement.
The agreement was signed on Wednesday in Beijing by Bono, CEO of Carnival Asia and Costa Group Michael Thamm and President of CSSC Wu Qiang.
The first cruise ship delivery under the new deal is planned for 2023.