(Credit: AFP/Getty Images)

On which replica of the Titanic would you prefer to "sail?" A theme park attraction that simulates the collision with an iceberg or an Australian billionaire's cruise ship version that replicates the original?

This week, a Chinese theme park announced it is building a life-size replica of the Titanic that will be used for re-enactments of the great shipwreck of 1912.

"When the ship hits the iceberg, it will shake, it will tumble," said Su Shaojun, chief executive of the Seven Star Energy Investment Group that funded the project, according to Reuters. "We will let people experience water coming in by using sound and light effects … They will think, 'The water will drown me, I must escape with my life'."

The Romandisea Seven Star International Tourism Resort's replica, anchored in the landlocked province of Sichuan, China, is expected to open to the public in 2016. It will cost about $165 million, or 1 billion yuan, Reuters reported. The theme park planners invited British actor Bernard Hill, who played Captain Edward Smith in the 1997 "Titanic" film, to participate in the press conference on Sunday.

The museum-like attraction will allow several hundred people at a time to experience the shipwreck.

This theme park attraction is not to be confused with another race to build a replica of the ill-fated ship.

Read More: Titanic II's Third Class Woos With Authenticity

Back in February, Australian billionaire Clive Palmer announced he is building a luxury liner to set sail in 2016. Palmer's Titanic II will replicate the passengers' conditions of the ship, such as forcing 700 steerage passengers to share two bathtubs - one for women and the other for men.