Billionaire Clive Palmer Builds Titanic II image

Clive Palmer, the Australian mining billionaire, wants to build a 21st century replica of the famous Titanic by 2016, and sail it from England to New York.

Palmer has already signed an agreement with Nanjing-based CSC Jinling Shipyard to build the ship as part of a planned fleet of luxury liners. The ship will have the same dimensions as the original Titanic, and it will cost at least $500 to be built.

“You’re starting from scratch with no experience,” Johnson said. “A $500 million punt is quite sizable.”

The original ship called Titanic, commissioned by White Star Line, was the largest liner in the world when built at just under 270 meters (about 880 feet) and 53 meters high. Titanic II, Palmer’s project, will have 840 rooms on nine decks just like its predecessor.

“It will be every bit as luxurious as the original Titanic, but of course it will have state-of-the-art 21st century technology and the latest navigation and safety systems,” Palmer said, along with gymnasiums and swimming pools.

The cruise-ship industry is still dominated by European companies, so it will be a challenge for the Chinese company to build the luxurious ship.