LatinNews Daily - 12 November 2020

* Emirati multinational logistics company DP World has inaugurated its dock expansion at the Punta Caucedo multimodal port, near the Dominican Republic’s capital Santo Domingo. According to a DP World press release, the US$114m project is part of the company´s plan for growth in the Dominican Republic (DR), “with the objective of directly contributing to the transformation of the country into the principal logistics hub of the Americas”. Those present at the inauguration ceremony included DR’s President Luis Abinader and Group Chairman and CEO of DP World, Sultan Ahmed Bin Sulayem. The expansion adds 450 metres of berth and more than doubles the port capacity from 1.2m TEUs (20-foot equivalent units) per year to 2.5m TEUs per year. According to DP World, which has already invested over US$600m in Punta Caucedo, three Super Post Panamax and five RTG cranes have already been installed, with a further Super Post Panamax crane and five additional RTG cranes due to be added next month. In the next phase of the expansion DP World plans to build a 3m m² economic zone for manufacturing at Caucedo to attract investment by foreign companies.

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