Lyondell Chemical Co. will pay $250 million to settle environmental claims and provide funds to clean up 15 properties across the country that are contaminated with hazardous waste, the government and the company said Wednesday.
Prosecutors said an agreement filed late Tuesday in bankruptcy court in Manhattan calls for $162 million to be spent, with $108.4 million going to clean up nine polluted properties that Lyondell owns in seven states. The properties will be turned over to a custodial trust.
David Harpole, a spokesman for the Houston-based company, said the $162 million is a portion of the $250 million that the chemical company has pledged in …
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