Fincantieri has secured a €700m contract from Virgin Voyages for the construction of a fourth cruise ship.

The 110,000t vessel will be 278m-long and 38m-wide. It will be designed to accommodate over 1,400 guest cabins for more than 2,770 passengers and 1,100 crew members.

Delivery of the vessel is expected to take place by the end of 2023.

The new ship will be a sister ship of the three vessels currently being built by Fincantieri.

Fincantieri has already started construction of the first three ships at its Sestri Ponente shipyard in Genoa, Italy, and plans to respectively deliver them to Virgin Voyages in 2020, 2021 and 2022.

The construction followed an order valued at around €2bn finalised by Fincantieri and Virgin Voyages in 2016.

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In a statement, Fincantieri said: “The Virgin Voyages fleet will stand out for original design and craftsmanship. Highlights include highly innovative design solutions, specifically to address energy recovery and the reduction of the overall environmental impact.

“The result is a system that distinguishes Virgin Voyages as they aim to create one of the cleanest fleets at sea.”

“Ships will be equipped with an energy production system of approximately 1MW, which uses the diesel engine’s waste heat.

“The result is a system that distinguishes Virgin Voyages as they aim to create one of the cleanest fleets at sea.”

Last month, MSC Cruises signed a memorandum of agreement (MOA) with Fincantieri for building four ultra-luxury cruise ships for a total value of more than €2bn.

The vessels will weigh approximately 64,000 gross tonnes and will be equipped with 500 cabins.