Global terminal operator has signed a deal in Latin America to spend $760m expanding the Dominican Republic’s Port of Caucedo and its free trade zone.
DP World said the Dominican Republic offers a compelling environment for manufacturers and logistics providers by offering competitive costs, robust tax incentives, and proximity to US markets and duty-free access.
“This is a transformative investment, not just in infrastructure, but in the future of the Dominican economy,” Morten Johansen, chief operating officer, DP World Americas, said in a release. “The expansion is expected to generate billions in foreign direct investment, create thousands of new jobs, and solidify the Dominican Republic’s position as a premier destination for nearshoring and global trade.”
Under the deal, DP World will raise Caucedo’s container handling capacity from 2.5m teu to approximately 3.1m teu, while developing 555 acres of land into a free trade zone.
Energy News Beat