The RMS Titanic, a legendary cruise ship that met a tragic end in 1912, is set to be reborn as a full-scale replica. Australian mining tycoon Clive Palmer has unveiled his ambitious project, the Titanic II, which he asserts will surpass the original in every aspect. This modern marvel will house 2,435 passengers across nine decks, offering a luxurious experience with cabins, dining rooms, ballrooms, swimming pools, and Turkish baths. Palmer initially revealed his plans for the ship in 2012, and after a brief hiatus due to a fallout with his mining company’s partners, he revived the project in 2018. The latest announcement was made at a grand event held at the iconic Sydney Opera House.

While the Titanic II will strive to replicate the original ship’s design, it will incorporate modern navigation systems and safety features that are now standard on cruise ships. For instance, regulations now prohibit lifeboats from being mounted as high as they were on the original Titanic, necessitating modifications for a full-scale replica. The ship will also be equipped with state-of-the-art fire-prevention measures and other safety features, ensuring its passengers a secure and comfortable voyage.

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One of the most exciting aspects of Titanic II is that a company in China will design it called Wuchang Shipyard, which is owned by the Chinese central government and builds nuclear submarines. China Daily reported that the company will build the cruise ship’s hull and other components. This is interesting because China is a significant supplier of shipbuilding parts to the global shipping industry. It has been working on many large luxury cruise ships for its national companies, including a full-scale replica of the Titanic built for the 1997 film.

The price tag for Titanic II isn’t yet known, but it’s expected to be $300 million. This is a massive amount of money, but it’s not unusual for billionaires to spend this kind of capital on a project that will generate significant profits.

If Titanic II does make it to the water, it could be a hit with tourists who want to take a trip back in time and experience what it was like aboard the ill-fated vessel that sank in the North Atlantic on its maiden voyage to New York City.

However, Palmer’s record could be better for the success of his plan to build a Titanic replica. In recent years, the billionaire has filed multiple lawsuits against state and federal governments, seeking compensation for government action that he claims has prevented him from developing his iron ore projects. He has even taken his fight against the government to international tribunals, where he’s lost several cases. Hopefully, his luck will change, and he can complete this ambitious project. If not, he may become a figurative ghost of the Titanic, whose legendary sinking still fascinates people worldwide more than 100 years later.