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Australian Billionaire Clive Palmer to Build High-Tech Titanic Replica

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One of Australia’s wealthiest entrepreneurs, who made his fortune developing real estate along the iconic Gold Coast, has a plan to honor the 100th anniversary of the Titanic: he’s going to build another one.

Clive Palmer’s ambitious tribute is already in the planning stages. Most of the construction of the Titanic II will take place at a state-owned Chinese shipyard, but the ship’s maiden voyage – currently scheduled for late 2016 – will still run from England to New York, just as the original Titanic intended.

See a gallery of Titanic photos

"It will be every bit as luxurious as the original Titanic, but ... will have state-of-the-art 21st-century technology and the latest navigation and safety systems," said Palmer said in a statement.

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Palmer doesn’t intend to stop at one voyage, however. According to his plans, the Titanic II will be the first of four luxury cruise ships that Palmer has commissioned from the CSC Jinling Shipyard in China. When asked by the Australian press, Palmer declined to provide a cost estimate for the project.

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See a gallery of Titanic photos