The cost of the ship is estimated to be around AUS $ 1 billion.

Clive Palmer, an Australian mining billionaire, has announced his plans to build a replica of the most famous cruise ship in history, the Titanic. According to a CNN report, Mr Palmer who first announced his plans in 2012 and again in 2018, resurrected his passion project to build a replica of the ship during an event at the Sydney Opera House on Wednesday.

Mr Palmer said his company Blue Star Line now intends to build the replica ship and set sail in June 2027. ”We are very pleased to announce that after unforeseen global delays, we have re-engaged with partners to bring the dream of Titanic ll to life. Let the journey begin,” Mr Palmer said in a press release.

”The government lockdowns sent the cruise industry into a long-term shutdown, We are getting the best ship-builders, designers and engineers in the world back on deck to build Titanic II,” he further said. The billionaire claimed that this ship would be ”far, far superior to the original”. 

”It’s a lot more fun to do the Titanic than it is to sit at home and count my money,” Mr Palmer told local media. The mining mogul has a net worth of $4.2 billion.

Tenders are now being sought to build the ship, and Mr Palmer hopes to find a shipbuilder by the end of the year to enable work to begin in 2025. There will be room for 2,345 passengers on board with 835 cabins across nine decks. Almost half of the rooms will be reserved for first-class passengers.

The ship would have the same interiors and cabin layout as the original vessel, complete with a ballroom, swimming pool and Turkish baths. 

”In 1912 the Titanic was the ship of dreams. For over a century Titanic’s legend has been powered by mystery, intrigue and respect for all she stood for,” Mr Palmer said. He estimated the 56,000-tonne ship would cost between $500m and $1 billion, as per a Guardian report. 

”Titanic II is something that needed to be built. We all know how to make war. We get armies and we fund wars. People know about that. But it is a lot harder to make peace. To make peace you have got to stick with it every day. You progress inch by inch,” he added. 

The ship’s maiden voyage is intended to trace the original route of the infamous 1912 voyage from Southampton to New York. It is scheduled for 2027.

Notably, The RMS Titanic, a British passenger liner, was one of the largest and most luxurious ocean liners ever built. The ship was on its maiden voyage from Southampton to New York City and had 2,240 passengers and crew on board. On April 15, 1912, the ship collided with a massive iceberg and sank in less than three hours. Over 1,500 people died in the maritime disaster, while only 705 individuals survived.

The tragedy inspired James Cameron’s Oscar-winning 1997 blockbuster ‘Titanic’, starring Leonardo DiCaprio and Kate Winslet.