Waigaoqiao Shipbuilding's first luxury liner to start cruising by 2020

Construction of the country's first luxury cruise ship is expected to start in 2017 and take three years, a senior executive from Shanghai Waigaoqiao Shipbuilding Co Ltd, the company building the vessel, said on Wednesday.

"We are already in negotiation with Italian shipbuilder Fincantieri SpA, which will provide technical support, and if everything goes smoothly, design work on the ship will start soon, building will kick off in 2017, and it will be delivered by 2020," said Chen Jun, vice-president of Waigaoqiao Shipbuilding, which is controlled by China State Shipbuilding Corp.

A 2.6 billion pound ($3.88 billion) agreement was signed in October between CSSC, China Investment Corp and Carnival Corporation & Plc, the world's largest cruise operator.