Could this bridge over "troubled waters" be the bridge to Middle East Peace?

Bear with me while I indulge in some wishful thinking here (it's my natural bent - I can't always suppress it.)

First some background. The London Times reports "Bride over troubled waters gets go-ahead":

Saudi Arabia and Egypt are putting the final touches to an ambitious transcontinental project to span the Gulf of Aqaba, creating a direct link between Africa and Arabia.

King Abdullah, the Saudi monarch, is expected to lay the foundation stone for the causeway when he visits the northern province of Tabuk next week. The project, which has been discussed for the past 20 years but never acted on, would involve the construction of two bridges across the Tiran Strait spanning a total distance of about 15 miles (25km).

Why close this gap? As the Times writes:

For Egyptians, the prospect of being able to travel overland to Saudi Arabia is particularly welcome. The tens of thousands who travel for work or on the haj pilgrimage to Mecca rely on a ferry service. Last year 1,000 people were killed when an overcrowded ferry sank in the Red Sea. Since then the service has been reduced.

...[Now] the only land link between Egypt and the Arabian Peninsula is via Israel, which most Arab states do not recognise.

The bridge would also enable Saudi tourists to flock to Sharm el-Sheikh, the relaxed Egyptian beach resort, a favourite of European holidaymakers.

But as the Times goes on to point out, serious issues have to be dealt with first:

The Gulf of Aqaba is home to unspoilt coral reefs and some of the best scuba diving waters in the world. Any big construction project in the area could seriously damage the delicate maritime environment.

Shipping could also pose a problem. The bridge would cut across a busy channel through which commercial shipping passes to Eilat, in Israel, and Aqaba, in Jordan.

Israel may have strong objections to the causeway if it were not satisfied that the security of its ships could be guaranteed by the Saudis and Egyptians. Saudi Arabia still does not have any formal ties with the Jewish State.

Could this bridge be the opportunity to close the psychological gap too?

If Egypt and Saudi Arabia could really demonstrate they are up to the task of protecting Israeli shipments, that would be pretty impressive. Not to mention how well it would bode for the region.

Oh, if only the children of Abraham would make a real and lasting peace...I have to say, forging a genuine peace treaty would seem to me to be more, well, a part of God's plan than, say, what is laid out in the Hadith people like Osama Bin Laden and Hamas like to quote:

The Day of Judgement will not come about until Moslems fight the Jews (killing the Jews), when the Jew will hide behind stones and trees. The stones and trees will say O Moslems, O Abdulla, there is a Jew behind me, come and kill him. Only the Gharkad tree, (evidently a certain kind of tree) would not do that because it is one of the trees of the Jews." (related by al-Bukhari and Moslem).

Now I'm not being insulting here. I'm just suggesting that there might be another interpretation of what the Prophet actually said here than the one bin Laden and the Hamas folks seem to be operating on.