The terminal is expected to open in 2020.
The prospects for cruising's future are promising, with demand continuing to rise. A CMP assessment found current facilities need to be augmented with another terminal building, Terminal 4.
This will enable the port to receive more and bigger ships.
'With this development, we are making sure that Copenhagen retains and develops its position as the leading cruise destination in northern Europe. We look forward to continuing to attract passengers to the attractive city of Copenhagen through close collaboration with various partners and actors in the city,' CMP CEO Barbara Scheel Agersnap said.
This year Copenhagen hosted 55 turnaround calls, each with more than 4,000 passengers. 2017's total passenger count is expected to number around 850,000.
'This decision gives us the opportunity to create a modern, attractive terminal that can efficiently handle the large number of passengers wanting to visit Copenhagen in future,' added CMP's Arnt Møller Pedersen, COO, cruise & ferries.