The Wuhan-based shipyard of China Shipbuilding Industry Corporation, a state-run shipbuilder, has commenced assembling 3,200 parts for the full-scale Titanic replica over the weekend, a company executive revealed on Saturday.
According to Wang Wejiling, the vice general manager of the Wuchang Shipbuilding Industry Group Corp., the project was invested by the Chinese firm Seven Star Energy Investment Group in the southwest China's county of Daying in Sichuan Province.
Wang added that the project would also require around 20,000 tons of steel.
"It's the first time we are rebuilding a ship that launched 100 years ago and it's a challenging one," Wang remarked during a press conference about the venture held in Daying.
The private entity Seven Star first stated the idea of rebuilding the popular passenger ship in 2013. Titanic left a mark in history after its tragic sinking in the North Atlantic in 1912.
Seven Star stated that the 1-billion-yuan project will serve as the main attraction of the Daying theme park they are eyeing to build.
The company's CEO, Su Shaojun, also revealed that earlier in March, Seven Star has launched the Titanic Foundation, which aims to provide assistance to shipwreck accident victims.
The Titanic replica is scheduled to be opened for public visit in Oct. 2017, Su added, noting that the recently unveiled foundation will receive 3 percent of the liner's ticket sales and 1 percent of the theme park's income.
Moreover, Su announced that the firm is now in talks with U.S.-based designers to help them in completing a replica with more precise layout and dimensions.
"We hope this life-size Titanic replica will bring us back to 1920s," the Seven Star CEO remarked, citing the plan of recreating the sunken ship's iconic features including the promenade decks and grand staircase.
Though the replica will be permanently seated on a river in the park, the visitors can also experience the infamous iceberg collision via high-tech simulation.
However, analysts regard that this endeavor will not be simple for the shipbuilder, citing concerns over the country's strict shipbuilding guidelines and standards.