Port of Santos could attract R$23.4 billion in investments under navigation channel concession

The concession of the access channel to the Port of Santos could involve up to R$23.453 billion in investments over an initial 25-year contract, with the possibility of deepening the channel to 18 meters. Details of the expanded scope were outlined by Flávia Takafashi, a director at Brazil’s waterway regulator Antaq, in an interview with the newspaper A Tribuna.

Takafashi served as rapporteur for the case at Antaq, which on Thursday (5), during a regular board meeting, approved the launch of a public consultation and hearing on the proposed concession model for Santos’ access channel.

The decision had originally been scheduled for December last year, but Takafashi withdrew the item from the agenda to allow for further review of the documentation. The director has now authorized the project to move forward to its participatory stages, with dates still to be set, opening the proposal to public debate and stakeholder input.

According to the rapporteur, the contract includes a broad package of works and services over the concession period. “We are talking about capital dredging to reach 16 meters initially, along with navigational signaling. After that, there would be further deepening to 17 meters,” she said, noting that this first phase alone would require R$688 million in investments.

In addition to capital dredging, the contract provides for the installation of a Vessel Traffic Management and Information System (VTMIS), environmental management services, operating licenses, studies for the construction of a training wall to reduce beach sedimentation, and surveys to assess the feasibility of deepening the channel to 18 meters.

“We are looking at a total contract value of R$23.453 billion, with an initial term of 25 years, which could be extended to up to 70 years,” Takafashi said. “This is a model that, while still requiring some fine-tuning, has the potential to attract the level of investment needed to secure the depth required for Santos’ access channel.”

She said the focus now is on refining the model. “The next step is the public hearing. Antaq’s technical team carried out a very detailed analysis. Adjustments can be made based on the contributions received, but the document already consolidates the metrics and options to reach 17 meters and to study a move to 18 meters, which is critical at a time when the Port of Santos is expanding.”

The access channel concession is considered a strategic project for Brazil’s logistics system. The underlying studies were submitted to Antaq in August 2025, but underwent technical revisions before returning to the board for deliberation.

With the authorization now granted, the regulatory process moves forward again. After the public consultation and hearing, contributions will inform final adjustments before the project is submitted to the Ministry of Ports and Airports and the Tribunal de Contas da União (TCU), both required steps prior to publication of the tender notice.

Antaq’s position formally establishes, for the first time, the possibility of deepening the Port of Santos access channel to 18 meters. Previously, the maximum depth considered was 17 meters. The projected investment volume has also risen sharply, from earlier estimates of around R$6 billion.

Some of the changes stemmed from requests by the Autoridade Portuária de Santos (APS). The full proposal will be reviewed by the Ministry of Ports and Airports during the public debate phase.

The Santos model differs from that adopted at the Port of Paranaguá, where a channel concession was awarded in October last year and approved by the ministry in December, making it the first access channel in Brazil to be transferred to private management. In Paranaguá, planned channel improvements total R$1.22 billion.

Planned works there include widening, rock removal and deepening to achieve the target draft. By the end of the first five years of the concession, the operator must deepen the channel to ensure an operational draft of 15.5 meters, up from the current 13.3 meters.

Santos is expected to become the third port in Brazil to adopt this type of concession, as the privatization of the access channel to the Port of Itajaí is already under review by the TCU. The tender for the Santos channel is expected to be launched by the end of this year.

Source: A Tribuna

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