DP World commits $760m to expand Dominican Republic port
DP World has signed a non-binding memorandum of understanding (MoU) with the Dominican Republic government, pledging to a $760m investment aimed at enhancing the Port of Caucedo and its Free Trade Zone.
This MoU was signed with the Ministry of Industry, Commerce, and MSMES (MICM) and marks the beginning of discussions to increase the port’s container handling capacity from 2.5 million TEUs to approximately 3.1 million TEUs.
The agreement could facilitate the development of 225ha of land designated for the Free Trade Zone.
This expansion is expected to enhance the Dominican Republic’s role in trade and logistics across the Caribbean region.
The investment will be allocated equally between the port and the Free Trade Zone, with each receiving $380m.
The port’s portion will fund the expansion of the quay and breakwater to accommodate larger vessels, the acquisition of new ship-to-shore cranes, yard equipment, and upgrades to security and automation systems.
The Free Trade Zone investment will focus on developing a new road network, utilities, a commercial and marketing centre to attract international tenants, and pre-built storage units.
DP World Group CEO and chairman Sultan Ahmed bin Sulayem said: “This agreement marks a major step forward in our vision — shared with our local partners and stakeholders — to enhance the country’s competitiveness and connectivity, creating greater opportunities for local communities and businesses to thrive.”
DP World anticipates the project to increase cargo volume by 300,000 TEUs annually and attract $3.9bn in foreign direct investment.
Furthermore, this initiative is projected to generate $4bn in new manufacturing output, creating thousands of job opportunities in the region.
DP World Americas COO Morten Johansen said: “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 currently oversees the marine terminal at the Port of Caucedo and an adjacent 86ha Free Trade Zone Park.
The company has invested more than $700m since 2003, increasing the port’s capacity from 900,000 TEUs to its current capacity of 2.5 million TEUs through ongoing investments and modernisation efforts
Last month, DP World completed initial testing of its hydrogen fuel cell rubber-tired gantry (RTG) crane at the Port of Vancouver, marking an advancement in decarbonising port operations.
