After months of speculation, Universal Orlando has officially announced plans to open a new multi-million dollar waterpark.

Called Volcano Bay, Universal filed plans for the development back in February. Now confirmed by the park, Volcano Bay will sit alongside Universal’s Islands of Adventure to become the resort’s third stand-alone attraction.

According to a statement released by Universal, the attraction will be highly themed, with a completely immersive environment inspired by tropical islands. Volcano Bay will complement Universal’s existing Cabana Bay Beach Resort and according to the plans will include a ‘volcano’ with slides, a wave pool, lazy river and rapids ride.

The park is due to open in 2017, with work tentatively scheduled to start in November 2016 on 53 acres (214,500sq m) of land. Whether the waterpark would be included in a multi-park ticket – as with Islands of Adventure and Universal Studios – is yet to be confirmed.