Puntacana Group begins construction of the Punta Cana Free Trade Zone

Grupo Puntacana began construction of the Punta Cana Free Trade Zone (PCFTZ): Air, Maritime and Land Logistics Center and Free Zone Park; in addition to the expansion of Terminal B of the Punta Cana International Airport (AIPC), in a ceremony led by the President of the Republic, Luis Abinader.

With an investment of approximately USD$200 MM, the Punta Cana Free Trade Zone will house cargo logistics operations and offices for the development of the Punta Cana Hub for the innovation and development of Fintech companies. With an area of 546,617.45 m2 of land, the project will contribute to the sustained economic growth of the area, creating more than 10 thousand jobs and positioning Punta Cana and the Dominican Republic as a leader in international trade and foreign investment.

“Faithful to our commitment to work for the economic and social progress of the Dominican Republic, through the Punta Cana Free Trade Zone and the expansion of Terminal B of the Punta Cana International Airport, we present two initiatives that project the vision of the future with which we are betting on the development of the country. We continue to imagine more,” said Frank Elías Rainieri, president and CEO of Grupo Puntacana.

The PCFTZ, from its Air, Maritime and Land Logistics Center, will handle import, export, transshipment and parcel cargo on a 265,518 sq. mt. site and 75,000 sq. mt. of construction, thus consolidating the process of cargo operations in passenger airplanes.

It will also have a Free Zone Park that will promote the manufacturing and service industry, facilitating the creation of different businesses on a 185,312 sq. m. of land and an approximate construction of 93,820 sq. m. of construction. The administrative offices of the Punta Cana Free Trade Zone will include the operations of the Directorate General of Customs (DGA), DP World Caucedo and the Free Trade Zone.

Terminal B Expansion: Punta Cana International Airport

The expansion of Terminal B of the Punta Cana International Airport will be carried out with an investment of US$80 million, with a capacity to handle 3 million passengers. This project will cover an area of approximately 25 thousand m² and will have seven gates, as well as seven air bridges. Construction is expected to be completed by November 2022. The expansion is in the hands of local architects and engineers.

“Terminal B will be ready to accommodate the U.S. Immigration and Customs pre-check service, which we are sure will be approved due to the competitive advantages it offers the Dominican Republic as a tourist and investment destination,” Rainieri added.

“This work will undoubtedly have a great impact on the economy because of the stimulus it will bring to the growth of tourism, but also to agricultural and industrial exports, the creation of new business and investment opportunities, the generation of jobs and a whole value chain that is favored,” said the director of the Punta Cana International Airport.

Advertisements

Leave a Reply

Your email address will not be published.

3 + eighteen =