Coast 2050 Study Agreement Signed

Thursday, March 02, 2000
The New Orleans District, USACE and the Louisiana Department of Natural Resources held an historic signing ceremony to launch a major coastal wetlands study. With the signing of the Coast 2050 Feasability Cost Share, the agencies will initiate a $6 million feasibility study of the Barataria Basin. The study will be completed in September 2001. "This is more than just another study," sais Congressman Billy Tauzin of Chackbay, who headed the effort to secure federal funding. "This is the beginning of a comprehensive, aggressive plan to save Louisiana's coastaline." The Barataria Basin was selected as the first area for study because it is the most critical, losing about 11 square miles annually. The study will focus on marsh creation, barrier island restoration and river diversion strategies. Other coastal feasibility studies are planned in the future.

Contracts

Banks Halt Support for Hanjin

A bankruptcy would be biggest ever for a container shipper. Hanjin Shipping Co's banks are halting support for the South Korean company, its lead creditor said,

Austal Dives into Loss

Australia’s largest shipbuilder Austal posted a full year loss of $84.28 million because a program to build war ships for the US Navy took longer than expected.

Russian Shipbuilder Signs $1 bln Oil Rigs Contract with Iran

Russian shipbuilder Krasnye Barrikady and Iran's Tasdid Offshore Development Company (TODC)  have signed a deal worth $1 billion to build five offshore drilling

 
 
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