(MENAFN - Khaleej Times) The President of the Dominican Republic, Danilo Medina, has inaugurated the start of the construction of the first logistics centre in the Dominican Republic, the Caucedo Logistics Centre, or CLC, a joint venture between DP World and the Caucedo Development Corporation.
With a prime location between Port Caucedo and Las Americas International Airport, the CLC will provide regional distribution facilities for foreign and Dominican businesses connecting them to a comprehensive, efficient, logistics multimodal network provided by the Port of Caucedo.
Phase one will see the development of warehousing over 40 hectares in the next three to five years, with a further 80 hectares developed in phase two. Timing will be in line with market demand.
The groundbreaking marked the start of construction work, with the first warehouse due for completion in the first quarterext year. The ceremony was officiated by Medina and DP World chairman, Sultan Ahmed bin Sulayem.
Amongst those attending the ceremony were senior Dominican Republic ministers, including Minister of Industry and Trade Jose del Castillo Savin, executive director of the Centre for Export and Investment Dr Jean Alain Rodriguez, Minister of Public Works Gonzalo Castillo, Administrative Minister Jose Ramon Peralta and Customs director Fernando Fernandez.
The joint venture partners' representatives included DP World group CEO Mohammed Sharaf, Zona Franca Multimodal Caucedo (ZFMC) vice-president and chief executive officer Morten Johansen, and Caucedo Development Corporation chairman Samuel Conde and its directors Manuel Tavares and Jaak E. Rannik.
The ZFMC joint venture is the 50:50 partnership between DP World and Caucedo Development Corporation that will develop and operate the CLC.