South Korea’s shipbuilding and shipping conglomerate STX Group said Friday that its European unit has clinched a deal to build a cruise ship.

Under the deal with Royal Caribbean Cruises Ltd., the world’s second-largest cruise operator, STX France will build the cruise ship by mid-2016, the group said. The deal includes an option to build another cruise ship.

The group did not reveal the financial terms for the deal, but market watchers estimate the price per vessel will be less than the previous two ships made by European affiliates of STX Group.

Its two same-sized liners, delivered each in 2009 and 2010 to Royal Caribbean, cost 900 million euros ($1.2 billion) each.

The vessel, 65 meters wide, 361 meters long, will be the world’s largest cruise ship with the capacity to accommodate 6,360 passengers and 2,100 crew members, according to STX. (Yonhap News)