Australian billionaire promises to build Titanic II by 2016

Titanic 2 Titanic Replica

Mining magnate Clive Palmer announced on Monday that he will build a high-tech replica of the Titanic and sail it from England to New York by the end of 2016.

The cost is unknown, but according to the 58-year-old native of Australia’s Queensland, the diesel-powered vessel “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.” The ship will have four smoke stacks like its predecessor, but they will be purely decorative in nature.

Titanic II will be built at a Chinese shipyard and will sail on its maiden voyage accompanied by the Chinese navy. Asked whether the new passenger liner could sink, Palmer said: “Of course it will sink if you put a hole in it.”

The original Titanic struck an iceberg and sank on April 15, 1912, killing 1,514 people. Its passengers included some of the wealthiest people in the world, as well as over a thousand emigrants from Europe seeking a new life in North America.