Australian billionaire mining magnate <name>Clive Palmer</name> has announced plans to build a fleet of luxury cruise ships, including a replica of the famous RMS Titanic.

<name>Palmer</name> has announced his new company Blue Star Line Pty Ltd has commissioned a close replica of the Titanic from CSC Jinling Shipyard in China. Construction would commence in 2013 and the maiden voyage would be in late 2016.

<name>Palmer</name> said, "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". When asked if the replica would be unsinkable, <name>Palmer</name> said "Of course it will sink if you put a hole in it. It will be designed as a modern ship with all the technology to ensure that doesn't happen."