MJM will refit the Azamara Pursuit and the scheme is expected to bring more jobs and investment to the NI's economy.
SDLP spokesperson Daniel McCrossan welcomed the announcement.
He said: "Belfast's status as a maritime capital shouldn't just be historic. We must be much more ambitious for this place than simply reflecting on a proud past. This venture has the potential to attract much more business in terms of drydock and refit works. I look forward to seeing the North become a prime spot for marine industry again."
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SDLP MLA Justin McNulty said: "The refit of a huge cruise ship in Royal Caribbean and Azamara's fleet is an incredible opportunity that will bring millions of pounds to the local economy.
"I have no doubt that this is just the start.The MJM team led by the entrepreneurial and ambitious Brian McConville will continue to grow and the marine industry can thrive again in the North and will be presented with further opportunities as an outcome of this multi-million-pound contract."
Alliance MLA Kellie Armstrong said: "This is fantastic news for Northern Ireland, and Harland and Wolff in particular. I want to congratulate the MJM Group for winning this contract and wish them luck for carrying out the work.
"I hope it sees jobs and financial investment brought into the local area, while attracting more businesses to use Northern Ireland as a base for future drydock work."
(CD/LM)
