'Artificial island may be built 4.5km off coast of Gaza'

Channel 2 reported Tuesday that the security cabinet has discussed the construction of a 2km by 4km artificial island built 4.5km off the coast of Gaza, and linked by a bridge.
According to the plan, Gaza's exports and imports would go though this island, which would include a port and an airport. The island would be under the security control of NATO or another international body that would search the cargo going in and out of the Gaza Strip. Israel has adamantly opposed opening a harbor or airport in Gaza because of security concerns.
According to the report, the project – spearheaded by Transportation Minister Yisrael Katz – would cost between $5 billion  - $10 billion and take some 6 years to build.  Katz spoke a number of months ago about the idea with Netanyahu, who told him to develop a plan. Some 17 similar models from around the world were studied and discussed.