The largest chunk of construction in the $14.6-billion ring of storm-surge defenses built by the U.S. Army Corps of Engineers around post-Katrina New Orleans is a $1-billion concrete wall across a marshy bay on the eastern flank of the city.
A slowdown in the worldwide market caused by low oil prices and economic and political problems in many regions have global contractors scrambling to find markets that are both secure and stable.
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