Following the sinking of the well-documented, and world famous Titanic on the night of April 14-15 1912 after it struck an ice berg; Australian billionaire, Clive Palmer is set to build and launch the new Titanic. Working with teams around the world, he is set to recreate the famous ship which will be named Titanic II.

It will only be different from the first in that Titanic II will be wider, with a welded hull instead of a riveted hull. It will also be equipped with more lifeboats.

The new Titanic will of course have modern evacuation procedures, satellite controls, digital navigation and radar systems and all those things you would expect on a 21st-century ship, said James McDonald, the global marketing director of Palmer’s company Blue Star Line.

Unlike the original Titanic whose maiden voyage was scheduled to sail across the Atlantic Ocean from Southampton, England, to New York, United States before it sank 400 miles (644 kilometers) south of Newfoundland; Titanic II will have its maiden voyage between Jiangsu in Eastern China to Dubai in the United Arab Emirates, but will not be ready until 2018.