Grand Bahama Shipyard is set to to welcome MSC Cruises as a partner, joining Carnival Corporation and Royal Caribbean who are part owners of the facility in the joint venture, according to a statement.

The yard is set to expand with two new floating docks, which is part of a $600 million investment.

“We are delighted to see positive momentum on our expansion and modernization, which is expected to increase activity here in the shipyard, boosting local businesses, creating economic opportunities, and enriching the community for Grand Bahamians,” said Chris Earl, CEO of Grand Bahama Shipyard.

The new docks are set to be operational in 2026.