The 290m, 114,500gt cruise ship has 17 decks and can accommodate 3,500 passengers.
Costa Crociere chairman and CEO Pier Luigi Foschi said: "The delivery of Costa Fascinosa is an important stepping stone on our company’s road to recovery."
The vessel features a 3,280ft² relaxation and entertainment area, raised whirlpool tubs, 13 bars, a casino, a piano bar and five restaurants.
It also has a 19,680ft² wellness centre, cabins and suites, six veranda suites and a gym.
The ship is equipped with a cold ironing facility, allowing the ship to plug into shore side electric power, and all solid waste will be collected for recycling rather than being dumped overboard.
Costa Crociere’s parent company Carnival has ordered five new ships with Fincantieri, and Costa Crociere is planning to receive a bigger vessel with 5,000 berths by 2014.
Delivery of Costa Fascinosa follows the $118m refurbishment of another cruise ship, Costa neoRomantica, at the same yard.
Since 1990, Costa Cruises has commissioned shipbuilding work worth $7.6bn at Italy’s Fincantieri, T. Mariotti and San Giorgio del Porto shipyards, including 14 shipbuilding orders and refurbishment of other vessels.
Image: The Costa Fascinosa has 17 decks and can accommodate up to 3,500 passengers. Photo: Kefalonitis94.