Emirati port and logistics multinational DP World has signed a landmark agreement to invest $760 million in the expansion of the Port of Caucedo and its adjoining free trade zone.
The deal, which has been formalised through a Memorandum of Understanding (MoU) with the Dominican Republic’s Ministry of Industry, Commerce, and MSMEs (MICM), marks a significant boost for the Caribbean country’s logistics and trade infrastructure.
The investment will be split evenly between enhancing the port’s container handling capacity and developing the free trade zone.
The port’s capacity is set to increase from 2.5m to approximately 3.1m TEUs.
It involves the construction of quay and breakwater extensions, the acquisition of new cranes and yard equipment, and upgrades to infrastructure and automation systems.
Meanwhile, the free trade zone will be expanded across 225 hectares, featuring a new road network, utilities, a commercial and marketing centre, and pre-built storage units designed to attract international businesses.
DP World, which has operated in the Dominican Republic for over 25 years and previously invested more than $700m in the Port of Caucedo, aims to transform the facility into the region’s most advanced logistics hub.
The project is expected to attract $3.9 billion in foreign direct investment, create thousands of jobs, and strengthen the Dominican Republic’s position as a key nearshoring and trade destination in the region.
This strategic expansion underscores the growing importance of the Caribbean in global supply chains and highlights the Dominican Republic’s commitment to fostering economic growth through enhanced infrastructure and international partnerships.
