The Taiwan International Ports Corporation (TIPC) has signed a letter of intent with the Royal Caribbean Cruises Ltd. to build a cruise terminal.
The Florida-based company is the worlds’ biggest cruise line operator.
According to the document, signed on Monday, the two sides are planning to build a terminal on the outlying island of Penghu. The project is slated for completion by April, 2016.
The Asian cruise line market has grown by 8% in recent years, which is higher than the global average.
Transportation Minister Yeh Kuang-shih said on Monday that the government’s initial plan is to spend one billion Taiwan dollars building the terminal. However, the plan is still under evaluation.
TIPC says the terminal would be able to accommodate the world’s biggest cruise liner -- Oasis of the Seas.