HALIFAX – A plan for the second version of the Titanic will revealed on Friday in Halifax.

The man behind the planned revamp, Australian Mining magnate Clive Palmer, plans to build a passenger liner to replace the legendary ship that sank on its maiden voyage in 1912.

Many of the Titanic victims are buried in Halifax cemeteries.

The new ship is expected to be built by a Chinese company and should be ready to set sail in 2016.