By Colin Kellaher
Carnival Corp. (CCL, CUK) and Royal Caribbean Cruises Ltd. (RCL) Tuesday unveiled plans to expand cruise operations in the eastern Caribbean island nation of Saint Lucia.
The Miami-based cruise giants said they signed a memorandum of understanding with the Saint Lucia government to form a joint venture that will manage the existing cruise pier and terminal facilities at the Port of Castries and to build and operate a new cruise port in Vieux Fort on the southern part of the island.
Carnival and Royal Caribbean said the new port will be able to accommodate the latest and most innovative ships in the cruise industry. The two companies currently account for 75% of all cruise ship deployment to Saint Lucia.
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