Norfolk Southern Says , Ongoing Ohio Derailment Cleanup , Costs Doubled to $803 Million.
'The Independent' reports that costs stemming from
Norfolk Southern's train derailment in East Palestine,
Ohio, have reached $803 million.
'The Independent' reports that costs stemming from
Norfolk Southern's train derailment in East Palestine,
Ohio, have reached $803 million.
The news comes as the railroad operator
continues to clean up the mess and face numerous
lawsuits relating to the high-profile disaster.
On July 27, Norfolk Southern recorded
an additional $416 million in costs added to
$387 million reported earlier this year.
'The Independent' reports that much
of the increase is related to cleaning up
hazardous chemicals released in the spill. .
$222 million has been paid toward a combination
of legal fees and community assistance.
$222 million has been paid toward a combination
of legal fees and community assistance.
Thousands of people were forced to evacuate when
officials burned vinyl chloride which sent a towering
plume of toxic, black smoke into the atmosphere.
Several other hazardous chemicals were also
spilled after tank cars were ruptured.
The $803 million cost estimated by Norfolk Southern
does not include funds to compensate people in
East Palestine for any long-term health effects.
'The Independent' reports that the number also doesn't
include any drops in home values or drinking water issues,
as those are still in the process of being negotiated.
In addition to charges relating to the derailment, Norfolk
Southern had a 6% drop in shipments, which saw the
company's profits more than halved, falling to $356 million