Expansion adds 450 meters of berth with 8 cranes
DP World has 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 transforming 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 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 $114 million in the project. 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.
President of the Dominican Republic, Luis Abinader in his speech 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",
During his speech, Sultan Ahmed Bin Sulayem said: "For a long time in DP World we have recognised the great potential of the Dominican Republic. We're pleased that our plans to develop our business perfectly complement the vision of President Luis Abinader.
"We have already invested more 600 million dollars 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 said, "The Dominican Republic becoming the main logistics hub of the region is not a dream, it is becoming a reality."