Australian billionaire Clive Palmer has unveiled detailed plans for his Titanic II project, and declared an on board casino would be off limits to pensioners, Herald Sun reported.

The outspoken businessman said a casino would most probably be restricted to first class passengers only to ensure those who could not afford to lose money didn't.

"There'll be some sort of screening (process)," Palmer said. "We'll be in international waters so we'll probably be able to stop pensioners coming without breaching any legislation."

He said the replica of the ill-fated Titanic would feature a number of key differences including the addition of a "safety deck" with "proper lifeboats".

"New escape stairs, service elevators, air conditioning room and similar functions have also been added," he said.

His ship would also be about one meter wider than the original for "stability".

"But we've retained the essence of the Titanic by having first, second and third class. I think that's very important," said Palmer. "So if you book on third class you can share a bathroom, sit down at a long table for dinner every night, have some Irish stew and a jig in the night."

Palmer declined to say what the project might cost, but he ruled out seeking any co-investors. "We don't want any partners. If you look for partners things mightn't happen. This is just for me to go for a little sail around the world in," he said.

The final design was still subject to approval by the board of Palmer's shipping company Blue Star Lines.

It is due to make its maiden voyage in late 2016 after completion at China's CSC Jinling Shipyard.