The first warehouse at the Caucedo Logistics Centre, a joint venture between DP World and Caucedo Development Corporation, has been officially opened in DP World’s Caucedo port, in the Dominican Republic.

President Danilo Medina Sanchez and Sultan Ahmed Bin Sulayem, chairman of DP World, opened the warehouse during a special ceremony, said a statement.

The warehouse provides regional distribution facilities for foreign and Dominican businesses connecting them to a comprehensive, efficient, logistics multimodal network provided by the Port of Caucedo which is operated by DP World, it said.

Phase 1 will see the development of warehousing over 4.3 million sq ft (40 hectares) and a further 8.61 million sq ft (80 hectares) developed in Phase 2. Timing will be in line with market demand, it added.

The centre provides Dominican Republic importers and exporters with the chance to improve the efficiency of their supply chains with modern facilities close to both the port and the airport, said the statement.

Shipping lines will also benefit as more volumes are generated through the logistics centre, it added.

Speaking at the opening of the warehouse, Bin Sulayem, said: “I was proud to be here in 2013 for the ground breaking ceremony of the Caucedo Logistics Centre, the first in the Dominican Republic, along with the president and I am delighted to be back for the inauguration today of the centre’s first warehouse.”

“The integrated port and logistics model is one we have pioneered globally, both at home in Dubai at Jebel Ali, elsewhere in London and also here. We are building long term supply chain assets for economies and future generations,” he said.

“We have been committed to the development of the logistics centre since its inception and are witnessing the beginning of an exciting opportunity to develop the Dominican Republic as a trade and logistics hub,” he added.

“DP World Caucedo and this centre are proof of our commitment to investing here, and it would not have been possible without the support of the president and the government of the Dominican Republic to provide a legal framework that supports this growth,” Bin Sulayem concluded. – TradeArabia News Service