DP World — a global logistics solutions provider with headquarters in Dubai, United Arab Emirates — has indicated that its investment of US$114 million into the DP World Caucedo port terminal in the Dominican Republic will support the country’s efforts to become a logistics hub in the Americas
At a ceremony earlier this month to mark the opening of the expanded main berth at DP World Caucedo port terminal, Group Chairman and CEO of DP World Sultan Ahmed Bin Sulayem underscored his 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.
“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,” Bin Sulayem stated.
“We have already invested more [than US]$600 million 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,” he continued.
Consequently, the expansion project increases the main berth at DP World Caucedo port terminal by 450 metres and, by extension, doubles the port’s capacity from 1.2 million twenty-foot equivalent units (TEUs) per year to 2.5 million TEUs.
In addition, the US$114 million investment also secured the installation of three Super Post Panamax and 5 RTG cranes, even as the company awaits the addition of another Super Post Panamax crane and five more RTG cranes next month.
DP World also revealed its plan to build a three-million-square-metre economic zone for manufacturing at Caucedo to attract investment by foreign companies as part of a second phase of expansion.
Already the expansion of the port has significantly improved the Dominican Republic’s connectivity and competitiveness in the global logistics sector. Moreover, the project will directly support the Government of President Luis Abinader’s goal of boosting the country’s economy through nearshoring production for companies based in the United States.
According to the president, who spoke at the inauguration ceremony, “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.”
Abinader added that the intelligent logistics solutions that DP World offers an only redound to the Dominican Republic transforming into an attractive logistics destination that adds value to the region.
“In the same way, it favours nearshoring investments, job creation and modernity,” he further noted.
In addition, to the president of the Dominican Republic and DP World group chairman and CEO, the ceremony also had in attendance Government ministers Victor “Ito” Bisonó (industry and commerce) and Carlos L Díaz Morfa (defence); as well as local executives of DP World, including CEO of DP World Caucedo Morten Johansen.
“The Dominican Republic becoming the main logistics hub of the region is not a dream, it is becoming a reality. At DP World, we combine the infrastructure, logistics services, and the expertise in our global operations,” Johansen remarked at the event.
“With each of these projects, we are creating job opportunities for Dominicans and improving the quality of life for communities. We are connecting the Dominican Republic with the entire world.”
Sanz Lovatón, general director of Customs, and Jean Luis Rodríguez, director of the Dominican Port Authority, also attended the inauguration ceremony.