AssetID: 52925737
Headline: UNCAPTIONED: Norfolk Southern Says Ongoing Ohio Derailment Cleanup Costs Doubled to $803 Million
Caption: 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 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. 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. THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Norfolk Southern,ongoing,Ohio,Derailment,United States,America,cleanup,costs,doubled,millions,dollars,East Palestine,disaster,contamination,danger
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