The two “next-generation” ships will be the largest cruise ships ever built in Italy and are scheduled for delivery in late 2023 and spring 2025.
The completion of the contracts comes after Princess and Fincantieri agreed an initial memorandum of agreement in July 2018.
They will be the first Princess ships to be dual-fueled with power primarily coming from more environmentally friendly liquefied natural gas (LNG).
Jan Swartz, Princess Cruises president, said: “Princess Cruises continues to grow globally, adding new ships to our fleet built by our long-time trusted ship building partner, Fincantieri.
“Even more exciting is that these two ships are being designed to include our Medallion Class platform, powered by Ocean Medallion, the most advanced wearable device available within the global hospitality industry.”
The line’s next new ship, Sky Princess, is currently being built at the Monfalcone shipyard in Italy and is due to launch in October 2019.