Oceanic Creations?EUR??,,????'??? first major project is The Maya Hotel, south of Cancun, Mexico, on the Caribbean Sea. The project is estimated to cost $209 million. Other plans underway include student housing for congested places and a floating wind tunnel that will be placed outside New York. The wind tunnel will be used to simulate the experience of skydiving. Other long-term plans include the construction of hotels, casinos, island cities and even movable vacation villages.

The unique plastic composite material that will support the floating buildings was originally part of the defense industry. Ronny Nordell, engineer and co-founder of Kockums, the company that invented it, tried to get permission to use the material in 1986 but was rejected from the Swedish government because it was considered a defense secret. The plastic material also features built-in insulation making it suitable for all types of climate extremes. The makers say the plastic is up to six times lighter and 10 times stronger than steel.

The United Arab Emirates market has also been strongly interested in the technology. “This material will prove very cost-effective for places like Dubai and Abu Dhabi who work a lot with landscaping and usually use sand and mud to build,” said Stefan Holmgren, head of international marketing. The plastic may maintenance costs by up to 30 to 40 percent.

The production will initially kick-off from facilities in Varna, Bulgaria, strategically located on the Black Sea for easy transport.

Source: CNN.com