DUBAI's DP World has inaugurated
its dock expansion at the Punta Caucedo Multimodal Port in the
Dominican Republic which will more than double its capacity to 2.5 million TEU.
The
launching of the US$114 million project was attended by president of the Dominican Republic, Luis Abinader and DP World group chairman and CEO Sultan Ahmed
bin Sulayem.
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 expansion adds 450 metres of berth, and
three super post panamax and five RTG cranes have already been installed, and
next month one super post panamax crane and five additional RTG cranes will be
added. The expansion more than doubles the port capacity from 1.2 million TEU
per year to 2.5 million TEU per year.
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, reports Colchester's Seatrade Maritime News.
"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, "said President
Abinader.
"Investors
know that there are great opportunities here and a serious and rigorous
government that will work side by side to move their projects forward and
generate well-being for all the Dominican people," he added.
DP
World's Sultan Ahmed Bin Sulayem, commented: "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 $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."
Source
: HKSG / Photo : Dominican Today.
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