Australian billionaire Clive Palmer has been developing the Titanic II under his company, Blue Star Line. The replica of the ill-fated Titanic cruise ship that sailed and sank in the 1900s will mark its maiden voyage in 2018, Fox News reported.

Designed with modern equipment, including digital controls, radar systems and satellites, the cruise ship will be able to host 2,400 passengers and 900 crew members in its 840 cabins. It will also have its own gym, swimming pool and Turkish baths.The ship has retained most of the original Edwardian look as the first cruise ship, with the exception of some updates on the evacuation procedures, according to Belfast Telegraph.  

Ticket prices have yet to be announced by Blue Star Line, but like the first Titanic, it will have first, second and third class distinction. Some eager passengers have already expressed willingness to pay $1 million per ticket, according to CNBC.

Titanic II will set sail from Jiangsu, China to head to Dubai, United Arab Emirates, where Blue Star Line is courting more investors. "It is people looking to use the opportunity of the trademark and licensing potential of the project. We own the Titanic II name and trademark and people are lining up to be part of it," operations director James McDonald told Belfast Telegraph.

Blue Star Line first announced it will be building Titanic II in 2012, following Titanic's 100th anniversary. CSC Jinling from China was commissioned by the company to build the new ship despite criticisms from relatives of the passengers of original cruise ship.

More than 1,500 passengers died on Titanic's first and only voyage in 1912 after it hit an iceberg and sank.

The videos below show what you can expect from Titanic II: