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2004
2004, June 16: The private sector in the
Dominican Republic will invest US$400 million in the renovation and expansion of
the Port of Santo Domingo, a project that is part of plans to reposition the
city as a major Caribbean tourist destination.
According to El Caribe, the promoter,
Inversiones Turisticas Sans Souci, expects an inflow of currency of up to
US$20.5 million into the country as a result of this project during its first
year. Projections are for inflows of US$38.5 million in the second year; US$88.1
million in the third; US$95.4 million in the fourth; and US$130.0 million yearly
starting in the fifth year.
Promoters say that the project will generate over
20,000 direct and indirect jobs by the fifth year of operation.
The mega-project includes construction of hotels,
convention centres, a 500-yacht sports marina, as well as parks and walkways.
Preliminary estimates indicate that the new port
could receive between one million and 1.5 million tourists per year.
Meanwhile, Diario Libre reports on
protests from 600 former employees of the Dominican Port Authority who received
their severance pay due to the closure of the Santo Domingo port. The port’s
ownership was to be transferred to Inversiones Turisticas Sans Souci on June 14.
Another 3,000 port workers have reportedly demanded that the Port Authority
ensure their jobs or give them severance pay.
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