The mining billionaire told Australian media that construction will start at the end of next year.
It would be ready to set sail in 2016.
The plan, he added, is for the vessel to be as similar as possible to the original Titanic in design and specifications, but with modern technology.
“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,” he said in a statement.
The announcement comes just weeks after the centenary of the sinking of the ill-fated Titanic.
The vessel, the largest luxury ship in its time, struck an iceberg on its maiden voyage from Southampton to New York. It went down on 15 April 1912, leaving more than 1,500 people dead.
“Of course it will sink if you put a hole in it,’’ Palmer said in response to questions from reporters on whether the Titanic replica would sink.
The new vessel is scheduled to sail from London to New York in late 2016, if all goes as planned.
“It is going to be designed so it won’t sink,’’ he added. ‘’But, of course, if you are superstitious like you are, you never know what could happen.’’
So, i gotta ask, will you go on the new Titanic if you got the chance?
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