DP World Caucedo has inaugurated the expansion of its main berth, helping to double capacity from 1.2m teu to 2.5m teu per year, as it aims to cater to the nearshoring of production for companies based in the US.
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.
President of the Dominican Republic, Luis Abinader, said: “Together with DP World, we want Punta Caucedo to become the logistics hub of the Americas.
“We know that it is an ambitious project, but it is an opportunity that will relaunch the economy and generate quality jobs. Only with this expansion and the integration of the land, DP World will generate more than 4,500 direct jobs.”
The US$114m expansion adds 450 m of berth while three super post-Panamax cranes and five rubber-tyred gantry (RTG) cranes have already been installed. Next month another super post-Panamax crane and five additional RTGs will be added.
In the next phase of the expansion, the operator plans to build a 3m sq m economic zone for manufacturing at Caucedo to attract investment by foreign companies.
Abinader further noted that the growth plan “consolidates the Dominican Republic as an attractive destination that adds value to the entire region”.
“It favours nearshoring investments, job creation and modernity,” he added.
Sultan Ahmed Bin Sulayem, CEO and chairman of DP World, reaffirmed the company´s commitment to a long-term strategic alliance with the Dominican government and to contributing to the creation of new opportunities for growth and development.
He said: “We have already invested more US$600m in Punta Caucedo, and we are committed to continuing to make long-term investments. This expansion will help to transform the Dominican Republic into the logistics hub of the Americas.”
Morten Johansen, CEO of DP World Caucedo, stated: “The Dominican Republic becoming the main logistics hub of the region is not a dream, it is becoming a reality.”