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Australian Billionaire to Build Titanic Replica

CNN  |  An Australian mining magnate has commissioned a Chinese shipyard to build a replica of the ill-fated Titanic, complete in every detail but equipped with modern technology to prevent a repeat of the original's fateful maiden voyage 100 years ago.

Clive Palmer, a Queensland mining billionaire with strong links to China, told Australian media that he had signed a memorandum of understanding with CSC Jinling Shipyard to build the ship.

He said construction of the luxury cruise ship would begin next year and the ship would be ready to sail in 2016.

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