"It’s a lot more fun to do the Titanic than it is to sit at home and count my money," Clive Palmer said at a press conference.
An Australian billionaire is reviving plans to create a Titanic replica, according to reports.
Mining magnate Clive Palmer announced plans Wednesday at a press conference in Sydney that his Blue Star Lines will create Titanic II, an exact replica of the doomed sea liner that famously sank after hitting an iceberg in 1912.
"It’s a lot more fun to do the Titanic than it is to sit at home and count my money," he said at the press conference.
This is the third time he has considered the idea of creating an exact replica of the ship after previous plans back in 2012 and 2018 did not materialize. He was forced to put the multimillion-dollar project on hold when the pandemic hit and ports closed, ITV reported.
However, third time might be a charm for Palmer, as he told a reporter he has “enough money to build the Titanic 10 times over” and that the project was not a hoax or publicity stunt.
Palmer said he was confident he could secure a shipyard in time for construction on the ship starting in 2025, with the ship’s maiden voyage from Southampton, U.K., to New York — replicating the ill-fated 1912 voyage of the original — scheduled for June 2027, The Guardian reported.
Palmer said tenders for construction would go out in June, with contracts signed by December and estimated the 56,000-tonne ship would cost between $500 million and $1 billion.
Once completed, the Titanic II, will encourage passengers to dress for the 1900s, but it’s not mandatory, according to CNN.
The ship itself will be 269 meters (833 feet) long and 32.2 meters (105 feet) wide, making slightly wider than the original, ITV reported.
There will be room for 2,345 passengers on board with 835 cabins across nine decks and almost half of the rooms will be reserved for first-class passengers, ITV reported.
“We are very pleased to announce that after unforeseen global delays, we have reengaged with partners to bring the dream of Titanic ll to life. Let the journey begin," Palmer said in a press release.
