DP World has signed a $760 million Memorandum of Understanding (MoU) with the government of the Dominican Republic to expand the Port of Caucedo and its Free Trade Zone.
The MoU, signed with the Ministry of Industry, Commerce, and MSMES (MICM), initiates negotiations that is set to raise Caucedo’s container handling capacity from 2.5 million TEUs (twenty-foot equivalent units) to approximately 3.1 million TEUs, while unlocking 225 hectares of development-ready land for the Free Trade Zone.
The new $760 million investment will be split evenly:
DP World, which has operated in the Dominican Republic for over 25 years, currently manages both the marine terminal at the Port of Caucedo, and the adjacent 86-hectare Free Trade Zone Park.
Since 2003, the company has invested more than $700 million in its development, boosting capacity from 900,000 TEUs in 2003 to 2.5 million TEUs today through steady investment and modernization.