Cleanup cost estimates were up to $12 million, from spilled petrochemicals, toxic heavy metal and the site's landfill (garbage and hazardous factory materials).

The company said its total cleanup costs have reached $9.5 billion so far.

Insurers said payouts for flood damage and cleanup costs will be huge.

It would be cheaper to do this than to fund thousands of out-of-work steelworkers and would avoid cleanup costs of billions of pounds.

The market price relates to simple houses built on greenfield land without cleanup costs.