4-30-2012http://news.yahoo.com/australian-billio ... nance.html
Australian billionaire to build Titanic II
One of Australia's richest men, Clive Palmer, on Monday unveiled plans to build a 21st century version of the doomed Titanic in China, with its first voyage from England to New York set for 2016.
Palmer, a self-made mining billionaire, said he had commissioned state-owned Chinese company CSC Jinling Shipyard to construct Titanic II with the same dimensions as its predecessor.
He added that he had invited the Chinese navy to escort the Titanic II to New York.
His decision to commission a Chinese shipbuilding yard, which will also construct other luxury liners for the tycoon, reinforces his ties to the country, which is a key buyer of his coal and iron ore.
"The Chinese are renowned for building commercial cargo and container ships," he said.
"China currently produces around two to three percent of the world's luxury ships but is looking to challenge the Europeans who have around 75 percent of this market.
"The Chinese ship building industry with our assistance wants to be a major player in this market."
The original Titanic was built in Belfast.