DP World has signed a US$760 million Memorandum of Understanding (MoU) with the government of the Dominican Republic to expand the Port of Caucedo and its Free Trade Zone, according to the company's release. The MoU, signed with the Ministry of Industry, Commerce, and MSMES (MICM), initiates negotiations to increase Caucedo’s container handling capacity from 2.5 million TEUs to approximately 3.1 million TEUs and unlock 225 hectares of land for the Free Trade Zone.
DP World has operated in the Dominican Republic for over 25 years and currently manages the marine terminal at the Port of Caucedo and the adjacent 86-hectare Free Trade Zone Park. Since 2003, investments exceeding $700 million have increased capacity from 900,000 TEUs in 2003 to 2.5 million TEUs today.
The new $760 million investment is allocated with $380 million for the port expansion, including the quay and breakwater, new cranes and equipment, surveillance and security systems, and gate and road upgrades.
The remaining $380 million is for the Free Trade Zone, covering a new road network, utilities, a commercial and marketing center, and pre-built storage units.
DP World estimates the project will add 300,000 TEUs annually, attract US$3.9 billion in FDI, and drive US$4 billion in new manufacturing output.
Morten Johansen, Chief Operating Officer, DP World Americas, stated: “This is a transformative investment, not just in infrastructure, but in the future of the Dominican economy. 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.”
DP World DP World operates across six continents with a team of over 100,000 employees, focusing on global trade through Ports and Terminals, Marine Services, Logistics, and Technology. In the Americas, DP World has over 16,000 employees across 12 countries, managing 14 ports and terminals and over 40 warehouses.