East Palestine train derailment will cost rail company $387M

A train derailment in East Palestine, Ohio.
(Image credit: DUSTIN FRANZ/AFP via Getty Images)

Rail operator Norfolk Southern said Wednesday that a toxic chemical derailment in East Palestine, Ohio, this past February will cost the company an initial $387 million, a figure that is likely to increase.

The charge was announced as part of Norfolk Southern's first-quarter financial report. While the company didn't go into specific details, Mark George, Norfolk Southern's chief financial officer, said on an investors call that the costs were related to site cleanup, community support, legal expenses, and pending settlements, The Alanta Journal-Constitution reported.

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Justin Klawans, The Week US

 Justin Klawans has worked as a staff writer at The Week since 2022. He began his career covering local news before joining Newsweek as a breaking news reporter, where he wrote about politics, national and global affairs, business, crime, sports, film, television and other Hollywood news. Justin has also freelanced for outlets including Collider and United Press International.