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There are even plans for a simulation experience that will give guests an idea of how it felt like for those on board when the Titanic struck an iceberg and sank in the North Atlantic. A giant Titanic replica will anchor a new theme park in Chinas Sichuan province. NewTitanic (@new_titanic) February 15, 2017 Qixing Energy Investment Group first announced the project in 2014, but after long delays it appears the ambitious 296-metres replica may actually be completed. A ceremony to mark the Construction loan Melbourne Oak Laurel Melbourne, 0430 129 662, 850 Collins St, Docklands VIC 3008 start of construction work took place in December - with Lord Mandelson, confusingly, among the guests . The firm is reportedly prepared to spend more than 1bn (115 million) making it a reality. View photos A poster for the original Titanic More Even grander are the plans of Australian billionaire Clive Palmer. He's been touting his Titanic II project, comprising a replica that will actually hit the high seas, for several years. A proposed 2016 launch date has been and gone, however, and construction on the vessel is yet to start. New Titanic design expert Curtis Schnell said Were trying to get as close as we can." NewTitanic (@new_titanic) February 13, 2017 Palmer is something of an eccentric. He announced the project in 2013 with a rambling, comical video address ."Titanic comes from a time when the world was different," he said. "When there was a different culture, different ways of living.