Caucedo Phase 2

completed

Caucedo Investments Inc. (“CII” or the “Company”), an existing IFC client, operates the Port of Caucedo (“Caucedo”) under a ten year concession automatically renewable for four consecutive ten year periods. Caucedo, the only deep water dedicated container terminal in the island of Hispaniola is located on the Caucedo Peninsula of the Dominican Republic, approximately 30 kilometers from the capital city of Santo Domingo. Caucedo benefits from its strategic geographic location in the central Caribbean, handling a mix of local and transshipment cargo. The marine terminal comprises an area of approximately 80.5 hectares including quay apron, container stacks and roads, within which there are some 19 hectares of block paving currently utilized for container storage. The main gate of the port is connected to the Autopista Las Americas by a dual carriageway divided access road of about 3.25km in length, which although a public road, is effectively dedicated to port and related traffic. Caucedo entered into operation in December 2003 and the works for Caucedo’s Phase II expansion project, designed to provide an incremental capacity of 275,000 marine lifts, are ongoing as at October 2010 and are due for completion in last quarter of 2010. The $69 million capital expenditure program includes the construction of a new 300m quay / Breakwater Berth on the inside face of the Caucedo terminal’s breakwater, the acquisition of 2 new mobile harbor cranes for the feeder berth, a 6th quay crane for the main quay and supporting equipment as well as the development of staging yard space on the existing breakwater reclamation. These new investments will allow Caucedo to maximize the throughput of the existing base infrastructure adding capacity in a cost effective manner, improving customer service through improved productivity and a more efficient operation of both berths.CII is 50% owned by DPI Dominica (“DPI DR”) and 50% by Caucedo Development Corporation (“CDC”). DPI DR is 90% owned by DPI Terminals LLC (“DPI”) and 10% by Dragados S.P.L. DPI is 100% owned by DP World Americas LLC (“DPW”), whose parent, DP World Ltd, is one of the largest marine terminal operators in the world, , with 49 terminals and 12 new developments across 31 countries, and is the main project sponsor. CDC is owned by a number of institutional and private shareholders, led by three local sponsors: Samuel A. Conde, Manuel E. Tavares and the B&R Group since inception of the project. IFC has a long-standing relationship with DPW and has ongoing investments in other 2 of DPW’s terminals (Terminales Rio de la Plata in Argentina and Sokhna in Egypt).