Investors and officers of the Dominican Port Authority announced that construction of the Caucedo Multimodal Port will start in six months time. The new industrial port complex will go up on an 800,000 square meter lot in Punta Caucedo, west of the Las Americas International Airport. The new industrial sector is envisioned to complement Dominican free zones. Major manufacturing processes, such as vehicle assembly, are contemplated for this new industrial park. The Caucedo Port is known as a multimodal port because it offers manufacturers the option of transporting goods by air, sea or land. The US$150 million project includes the construction of a major port facility with the latest technology to be used for trans-shipment of goods. Dominican Port Authority director, Melanio Paredes signed an agreement with project promoters Manuel Enrique Tavares, Samuel Conde and Jaak Rannik so that the port can be functioning in two years time. The port will offer competitive tariffs, and these will be paid according to the volume of the cargo. The government had authorized the free zone in February of last year, when it issued Decree 29-98.
