Fincantieri, the Italian shipbuilding group that is world leader in cruise ship construction, and Virgin Cruises, brand of Virgin Group and new cruise operator, expect to finalise an order for thee 110,000 gross ton ships in the final quarter of this year, Fincantieri said in a statement.

“The agreement, subject to the satisfaction of the usual customary conditions, is expected to be finalized in Q4 of 2015,” Fincantieri said in the statement. The two companies signed a binding letter of intent earlier today to build the three ships.