Port operator says it wants to grow its operations at Caucedo Port in the Dominican Republic
Dubai port operator DP World has announced plans to expand facilities at its $400 million hub in the Dominican Republic.
The company and its partners are looking expand their operations at Caucedo Port by building another 400-metre berth to ensure its future as a regional trade hub.
The move follows talks between DP World Group chairman and CEO Sultan Ahmed Bin Sulayem and Dominican Republic President Danilo Medina.
During their meeting in Caucedo, discussions focused on a growth plan that would attract more foreign investment to the country, a statement said.
Bin Sulayem said: “President Danilo Medina is working hard for his people and country, and the stable economy and political environment here will go a long way to attract more foreign investors.
"The Domincan Republic has tremendous potential as a logistics hub and we’re pleased to be working in partnership with the local government to maximise on these opportunities. Adding another berth at DP World Caucedo ensures we remain competitive and can serve the growing demand for our services in the region."
He added: “We’re also working on expanding the logistics park in Caucedo to attract new businesses and creating an ideal platform for the Dominican Republic to develop into a major hub for trade globally.”
The Caucedo Logistics Centre is a joint venture between DP World and Caucedo Development Corporation. It provides regional distribution facilities for foreign and Dominican businesses connecting them to a comprehensive, efficient, logistics multimodal network provided by the Port of Caucedo which is operated by DP World.
Trade between Dubai and the Dominican Republic during the first half of 2017 amounted to almost AED48.6 million, the statement added.