Floating pyramid hotel to debut in 2010

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A Swedish company has unveiled plans to build floating commercial and residential buildings around the world with the help of a new composite material, according to CNN International.

The company’s first major project — the Maya Hotel — is estimated to cost around $209 million and will be located south of Cancun, Mexico, on the Caribbean Sea.

The floating buildings will be built with an unique plastic composite material, which is normally used in the defense industry and will feature built-in insulation that makes the constructions suitable for all types of climate, from the freezing cold to extreme heat. The material, which the maker says is up to six times lighter and 10 times stronger than steel depending on the reinforcement material, can also cut maintenance costs by 30 to 40 percent.

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