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Economy & Business - December 2020

ECONOMIC HIGHLIGHTS

DOMINICAN REPUBLIC | Port expansion. Last month Emirati multinational logistics company, DP World, inaugurated its dock expansion at the Punta Caucedo multimodal port, located 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”. The expansion adds 450 metres of berth and more than doubles the port capacity from 1.2m 20-foot equivalent units (TEUs) 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 container and five rubber tyred gantry (RTG) cranes have already been installed, with a further super post-Panamax container crane and five additional RTG cranes due to be added this 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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