Santos–Guarujá tunnel advances after funding governance deal

The Santos Port Authority (APS) and the São Paulo state government signed an agreement on Tuesday, July 14, establishing how federal funds will be managed and released for the Santos–Guarujá tunnel project.

The agreement meets requirements set by Brazil’s Federal Court of Accounts (TCU) and clears the way for the federal government’s R$2.6 billion contribution to the project. It is intended to provide the legal and financial safeguards needed for construction to move forward.

The document was signed by acting APS President Júlio Cézar Alves de Oliveira and São Paulo State Investment Partnerships Secretary Rafael Benini.

Safeguards for federal funds

The agreement covers the portion of public funding under APS responsibility, equivalent to 50% of the total government contribution provided for in the concession contract.

Under TCU Ruling No. 690/2026, the funds could only be released after the parties established a transparent institutional structure to oversee their use.

The federal contribution will be held in a restricted escrow account, known as the Federal Funding Account, and will remain under federal ownership until each transfer is approved.

Funds will be released to the São Paulo state government only after APS issues a technical report and approves a formal assessment supporting the payment.

The system is designed to ensure that disbursements remain aligned with the physical progress of construction.

Permanent oversight committee

The agreement also creates a permanent technical committee to oversee the federal contribution.

The group will include representatives from APS, the São Paulo state government and the São Paulo State Transport Regulatory Agency (ARTESP). Brazil’s National Waterway Transportation Agency (ANTAQ) and the Ministry of Ports and Airports may also take part.

The committee will coordinate information sharing, monitor the project’s construction and financial progress, and oversee risk management throughout implementation.

Source: Port of Santos

Sharing is caring!