One of Australia's richest men, Clive Palmer, on Monday unveiled plans to build a 21st century version of the doomed Titanic in China, with its first voyage from England to New York set for 2016.
Palmer, a self-made mining billionaire, said he had commissioned state-owned Chinese company CSC Jinling Shipyard to construct Titanic II with the same dimensions as 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 in a statement.
"Titanic II will sail in the northern hemisphere and her maiden voyage from England to North America is scheduled for late 2016."
He added that he had invited the Chinese navy to escort the Titanic II to New York.
The announcement comes just weeks after the 100th anniversary of the sinking of Titanic, which went down on April 15, 1912 after striking an iceberg on its first voyage, from Southampton to New York.
Palmer said the new ship would be a tribute to the spirit of the men and women who worked on the original, which sank with the loss of 1,514 passengers and crew.
"These people produced work that is still marvelled at more than 100 years later and we want that spirit to go on for another 100 years," he said.