Incat Tasmania has secured a contract to build a Ro-Pax that will be the world's largest aluminium ship at 130 metres long.
Buenos Aires-based Buquebus will operate the vessel between Argentina and Uruguay.
Work is underway on design and engineering while the physical construction will commence as soon as the completed detail design drawings are approved by the customer.
The vessel will have a maximum speed of over 40 knots, four dual fuel engines that can also run on LNG, and capacity for 2,100 passengers and 220 motor vehicles.