Brazil's Santos Port Authority Signs Federal Fund Management Agreement with São Paulo State for Tunnel

en.Wedoany.com Reported - The Santos Port Authority (APS) and the São Paulo State Investment Partnerships Secretariat (SPI) have signed an agreement establishing the management rules and payment verification process for the federally funded portion of the Santos-Guarujá Tunnel (túnel Santos-Guarujá).

Developed in accordance with the guidelines of the Brazilian Federal Court of Accounts (TCU), the agreement sets the required safeguards for the transfer of 2.6 billion reais (approximately $510.73 million) allocated by the TCU, providing legal and financial certainty for project execution.

The document was signed by APS Acting President Júlio Cézar Alves de Oliveira and SPI State Secretary Rafael Benini. The terms cover the resources managed by APS, representing 50% of the total public funding stipulated in the concession contract. TCU Resolution No. 690/2026 stipulates that fund disbursement is conditional upon the establishment of an institutionalized structure for transparent management of the contributions.

TCU funds will be deposited into a restricted liquidity bank account (escrow account), referred to as the Federal Financing Account, retaining ownership until the funds are transferred. Transfers from the Federal Financing Account to the state level require the issuance of technical reports and declarations approved by APS itself. This method ensures that the use of public funds is strictly proportional to the completed phases of the project.

The agreement establishes a permanent Federal Cost Governance Technical Committee. This committee will be composed of representatives from APS, the State of São Paulo, and the São Paulo State Public Transport Concession Services Regulatory Agency (Artesp), with potential participation from the National Waterway Transportation Agency (Antaq) and the Ministry of Ports and Airports.