Clive Palmer, one of the richest men in Australia, signed a company with a Chinese company to build the Titanic II, a copy of the Titanic ship.

The company will begin building Titanic II at the beginning of next year and the ship will be ready in 2016, at the latest.

Palmer said that Titanic II will look a lot like the original Titanic, but it will be equipped with state of the art technology.

The voyage of the Titanic from Southampton to New York ended tragically. The Titanic hit an iceberg on April 14, 1912, and sank on April 15th. More than 1,500 people lost their lives in this tragedy.

Clive Palmer hopes that in 2016, Titanic II will be able to travel from London to New York without any problems.