CSX World Terminals announced it has reached an agreement with Caucedo Development Corporation to develop a trans-shipment terminal at the Caucedo peninsula adjacent to the Las Americas International Airport on the outskirts of Santo Domingo. Each company will have a 50% ownership. CSW World Terminals will be in charge of the development, marketing and administration of the operations of the port. The CDC and CSX World Terminals joint venture will in turn operate the Zona Franca Multimodal Caucedo S.A. The terminal seeks to be the principal port for container freight traffic handling, satisfying the needs of the apparel, tourism, agriculture and industrial markets in the DR, said Robert Grassi, chief executive officer of CSX World Terminals. The promoters of the project seek to take advantage of the strategic geographic location of the port, that has privileged access to the Caribbean, Central America and South American ports. The new terminal will have an area of 1.1 kilometer (0.68 mile) along the coast, with deep waters that permit the entrance of large ships. It will have a 123 hectares (5 acres) storage area for containers, and modern cranes for loading and unloading operations. The project is expected to be finished at year’s end 2002.
