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GE, EPA Sign Agreement to Begin Hudson Dredging Project

Thursday, October 06, 2005

GE and the U.S. Environmental Protection Agency announced today they have reached a comprehensive agreement for the implementation of EPA's 2002 decision to dredge PCB-containing sediments in the Upper Hudson River.

The agreement provides a comprehensive framework for the dredging project, which will be done in two phases with an independent peer review evaluating the project after the first phase. After peer review, modifications EPA believes are appropriate for the second phase of dredging will be made. GE will perform and pay for the first phase of the dredging project. GE's decision to perform the second phase of the dredging project will be made after peer review of the fi rst phase is completed.

GE has committed $111 million to reimburse EPA's past cost and future oversight costs for this project. The agreement between EPA and GE establishes a comprehensive framework for implementation of EPA's decision to dredge sediments containing PCBs from the Upper Hudson River, said Stephen D. Ramsey, GE's vice president of corporate
environmental programs.

"It also provides for an independent peer-review evaluation of the project, commits $111 million in GE funding to cover EPAs costs, and provides for long-term monitoring of the project's effectiveness after dredging is completed," said Ramsey.

"We will work with EPA, the State of New York and other stakeholders to ensure this project is conducted safely and in a way that addresses both PCBs in the river and the concerns of local communities that may be impacted by the project," Ramsey said.

The agreement that GE and EPA have signed implements one of the most complex and far-reaching remedial projects ever attempted under the Superfund program. The agreement is contained in a Consent Decree that EPA has filed in U.S. District Court for the Northern District of New York. A 30-day public comment period is planned.

During the public comment period, GE is continuing to plan and design the first phase of dredging. In August, GE submitted to EPA its intermediate design report, which is now undergoing public review. Once EPA approves the final design of the project, GE will solicit proposals for the dredging project and related operations and award contracts. GE and EPA will continue to work closely to provide progress reports to the public.

For more information, please contact Mark Behan at 518-792-3856