02/03/2013 09:07 GMT | Updated 02/03/2013 09:15 GMT

Titanic II Creator Clive Palmer Insists He Is Not Motivated By Money

A billionaire who is planning to build a new version of the Titanic insists it's no gimmick.

Professor Clive Palmer told journalists on Saturday he was not motivated by money.

The mining magnate wants his Titanic II passenger liner to sail from Southampton to New York in just three years.

Do we really need a new Titanic?

Speaking at a press conference at the Ritz hotel in central London, he said: "Money wasn't my primary consideration for this."

He then joked: "But it looks like, unfortunately, I'll make a lot of money out of it!"

The Queensland businessman's plans have been questioned by critics, who say the Titanic II project will never be a reality and Prof Palmer is simply trying to create headlines.

Asked what he thought of the sceptical reports, he said: "Well, I'd just say it's bullsh*t really.

"We're building four ships now bigger than the Titanic at the shipyard.

"I'm not somebody with no money. I've got enough money to build the Titanic ten times over if I wanted.

"So, there's no need for publicity. I'm trying to avoid the media if I can."

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