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GE Agrees to Dredge Hudson River

Stephen Taub, CFO.com
October 07, 2005

Dubbed one of the "most expensive industrial cleanups in history," the PCB cleanup is reportedly expected to cost $700 million.

Decades after it was barred from discharging large quantities of polychlorinated biphenyls (PCB's) into New York state's Hudson River, The General Electric Co. has agreed to dredge at least some of the toxic substances from the waterway.

The New York Times called the project "one of the largest and most expensive industrial cleanups in history." The entire 43-mile job is expected to cost about $700 million and is slated to start in 2007, the newspaper reported.

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For about 30 years ending in 1970s, GE discharged into the river large quantities of PCBs, the Web site reported. The chemicals, which are used in electrical equipment because they don't burn,were banned from production. In 1977, PCB use was banned because of health risks that included the possibility of skin rashes, liver damage, and cancer, according to FT.com.

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