Australian billionaire Clive Palmer to build Titanic II
30 April 2012 Last updated at 12:27 BST
Clive Palmer, one of Australia's richest men, has commissioned a Chinese state-owned company to build a 21st Century version of the Titanic.
The mining billionaire told Australian media that construction will start at the end of next year.
Mr Palmer told a press conference it would be ready to set sail in 2016, with the ship's maiden trip planned from London to New York.