The "father" of Metal Gear revealed a new game engine called Fox Engine at E3 2011. A multi platform engine developed by Kojima Productions. Kojima is developing their new unannounced game on this new engine and developed new tools to help boost productivity to develop more titles faster. There are no official details about the capabilities of the new Fox Engine. We will have to wait a bit longer for that. If I'll find more info I'll post it.
I've also found this video from IGN:
