New Dominican port hailed as Caribbean hub

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A new port and duty-free zone on the outskirts of The Dominican Republic's capital Santo Domingo could transform the area into a Caribbean business hub, according to developer CSX World Terminals.

A new port and duty-free zone on the outskirts of The Dominican Republic's capital Santo Domingo could transform the area into a Caribbean business hub, according to developer CSX World Terminals. The $300m site at Punta Caucedo is expected to open in December and covers 850,000sq m (9.15m sq ft), including 350,000sq m (3.77m sq ft) allocated to duty-free retail.

The project, launched in February 2002, has drawn wide interest from international investors and developers, with Canada's Scotiabank, International Finance Corp and German group DEG providing a $195m loan to establish the facility. It will be CSX's second Dominican port, the other being the Rio Haina terminal. The company also operates Venezuela's Puerto Cabello.