Carnival Corp., RCCL teaming up on new St. Lucia cruise port

Carnival Corp. and Royal Caribbean Cruises Ltd. plan to form a joint venture in St. Lucia that would develop a new cruise port on the southern tip of the island.

The two lines said they signed a memorandum of understanding with the government in St. Lucia to form the venture.

The venture would also manage the existing cruise pier and terminal facilities at the Port of Castries on the northern part of the island.

St. Lucia prime minister Allen Chastanet called the signing of the memorandum of understanding historic and "a major step towards enhancing Saint Lucia's tourism product."

The two-company venture will design, finance, construct and operate a new cruise port in Vieux Fort that will be able to accommodate the industry's largest and most modern ships. A projected cost for the project was not disclosed.

Together Carnival Corp. and RCCL said they account for 75% of the cruise ships visiting St. Lucia.