GALVESTON, Texas (AP) — The Port of Galveston and Royal Caribbean Cruises Ltd. plan to develop an $85 million terminal — the third for the cruise-popular city on the Gulf of Mexico.

Port Director Rodger Rees and Royal Caribbean CEO Russel Benford on Wednesday signed a memorandum of understanding.

Royal Caribbean will pay for the new cruise terminal, at Pier 10, with the site expected to open by the fall of 2021.

A port statement says the initial lease is expected to be for 20 years, plus four 10-year options.

Carnival Cruise Line and Disney Cruise Line ships also serve Galveston, which has terminals at Pier 25 and Pier 27.

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