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 incremental capacity of 275,000 marine lifts, are ongoing as at October 2010 and are due for completion in last quarter of 2010. The US$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 operations of both berths.Caucedo’s Phase II expansion project is expected to be completed in the first semester of 2012.