A replica of the Titanic is being built, complete with modern technology so that history doesn’t repeat itself. An Australian billionaire is paying a Chinese shipyard to recreate the famed, doomed ship for the modern era.

Clive Palmer, who made his fortune in the mining business, has commissioned CSC Jinling Shipyard to re-create the majestic vessel which sank after colliding with an iceberg 100 years ago.

The cost of the project has not been revealed.

Construction on Titanic, version 2.0, will begin in 2013. It is expect to hit the high seas by 2016, traveling from London to New York at the end of that year.

“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.

Palmer acknowledged the original ship’s fateful course and tragic collision with an iceberg, saying, “Of course, it will sink if you put a hole in it.” However, his ship will be properly prepared for any possible happenings, thanks to the benefit of current advancements in technology. He continued, “It is going to be designed so it won’t sink. But, of course, if you are superstitious like you are, you never know what could happen.”


More From 103.1 KKCN