Beijing, June 4 (IANS): A life-sized replica of the famous transatlantic ocean liner Titanic will be opened to the Chinese public in October 2017 in the western province of Sichuan.

Citing Chinese media reports, Efe news agency on Thursday reported that the construction of the iconic ship will be completed by August the same year.

Seven Star Energy Investment Group, a Sichuan-based energy company behind the project, announced in early 2015 that it would be investing $165 million in the construction of the ship.

The ambitious project aims to convert the small rural county of Daying in Sichuan into a top-notch tourist destination with the "Chinese Titanic" remaining permanently docked at Qi river.

The Chinese company has hired a US firm to submit designs based on the Olympic, the Titanic's identical sister ship which started its voyage in 1910 and ended its 24-year career in Britain's coastal city of Southampton.

In addition to the new Titanic, the company is also planning to open a museum that will tell visitors about the tragedy that struck the ship which sank during its maiden voyage after hitting an iceberg on April 14, 1912.