APNewsBreak: GE says Hudson River PCB dredging has cost $561 million through end of phase 1

APNewsBreak: GE says Hudson dredging cost $561M

ALBANY, N.Y. — General Electric Co. says the first phase of its ongoing PCB dredging project on the Hudson River cost $561 million.

The company provided the cost estimate to a panel of experts reviewing the project in response to a request. The information obtained by The Associated Press on Friday includes money spent on the project before dredging began last year.

Fairfield, Conn.-based GE reported that it spent $228 million for dredging, transportation and disposal of sediment. Another $130 million was spent to buy equipment and build facilities related to the cleanup.

Last year’s dredging was a test run for the far larger Phase 2 of the cleanup, a projected five-year project that regulators want to start next year.

PCBs, or polychlorinated biphenyls, are considered probable carcinogens.