The four-storey building will feature four embarkation decks and will be able to accommodate up to 36,000 passenger movements a day.
MSC said the project will allow its cruise division to further its presence in the North American market and attract more international travellers for holidays at sea in the Caribbean.
The new terminal will be able to accommodate MSC’s largest cruise ships, including its current flagship, MSC Seashore, and the line’s upcoming liquified natural gas-powered World Class ships.