Fri, May 04, 2012
The Chinese State-owned CSC Jinling Shipyard Co Ltd announced Tuesday at a news conference that it had signed a memorandum of understanding on April 20 with an Australian mogul to construct a replica of the Titanic in China.
The deal between the shipyard based in Nanjing, Jiangsu province, and Australian mining magnate Clive Palmer to build Titanic II is music to the ears of China's shipbuilding industry, which is currently bogged in its lowest earnings slump in three years.
Design plans have started for the new Titanic, which will have the same dimensions as its old version with 840 rooms and nine decks. The new vessel is expected to make its maiden voyage from London to New York in late 2016.
