11 November 2020, Dubai, United Arab Emirates
„This expansion will help to transform the Dominican Republic into the logistics hub of the Americas.”Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World
- Investment of US$114 million in berth construction and sophisticated equipment.
- Terminal will more than double capacity from 1.2 million TEUs to 2.5 million TEUs a year.
- Increase in the terminal´s capacity is the start of a project to develop Punta Caucedo into a Logistics Hub for the Americas.
DP World, the global logistics solutions provider, inaugurated the expansion of the main berth at the DP World Caucedo port terminal. The project is part of the company´s plan for growth in the Dominican Republic, with the objective of directly contributing to the transformation of the country into the principal logistics hub of the Americas.
The inauguration ceremony was held at DP World Caucedo and was led by the President of the Dominican Republic, Mr. Luis Abinader, and the Group Chairman and CEO of DP World, Sultan Ahmed Bin Sulayem. The event was also attended by other representatives of the Dominican Government including Victor “Ito” Bisonó, Minister of Industry and Commerce, José Ignacio Paliza, Administrative Minister of the Presidency, Carlos L. Díaz Morfa, Minister of Defense, Eduardo Sanz Lovatón, General Director of Customs, and Jean Luis Rodríguez, Director of the Dominican Port Authority, as well as local executives of DP World.
The expansion adds 450 meters of berth. Three Super Post Panamax and 5 RTG cranes have already been installed, the most sophisticated and robust equipment on the market. Next month a further Super Post Panamax crane and 5 additional RTG cranes will be added. The expansion more than doubles the port capacity from 1.2 million TEUs per year to 2.5 million TEUs per year. DP World Caucedo has invested US$114 million in the project.
By improving the country’s connectivity and competitiveness the port expansion will directly support the objective of the Government of President Luis Abinader to boost the country´s economy through nearshoring production for companies based in the United States. In the next phase of the expansion DP World plans to build a 3 million square metre economic zone for manufacturing at Caucedo to attract investment by foreign companies.