GE says US will pay for coal gasification study

FAIRFIELD, Conn.

General Electric Co. said on Friday that it and China Power Engineering Consulting Group Corp. signed agreements with the U.S. Trade and Development Agency, which will pay for a study to look at building coal facilities in China based on GE-designed technology.

The study will evaluate the cost and performance of a coal gasification technology, which GE said would burn with less carbon dioxide and other emissions.

GE shares fell 53 cents, or 2.7 percent, to close at $18.97 amid a broader market decline, and on a day when it reported a 32 percent drop in its first-quarter earnings.