Escrow account is created to secure federal funding for the Santos-Guarujá tunnel

The Santos Port Authority (APS) officially authorized Banco do Brasil to create an exclusive escrow account for the Santos-Guarujá tunnel project. The measure complies with a determination by the Federal Audit Court (TCU) and aims to ensure that federal public resources allocated to the work remain protected and linked exclusively to the project.

The so-called escrow account, also known as a guarantee account, functions as a segregated and temporary bank account, used to retain amounts until all contractual conditions are met. The mechanism is widely used in large infrastructure projects to ensure legal certainty, transparency and financial traceability.

According to the president of APS, Anderson Pominithe initiative strengthens the governance of public resources allocated to the dry connection between Santos and Guarujá.

“This initiative aims to ensure transparency and correct governance of the amounts allocated to the construction of the dry connection. With the decision, the public contribution is duly protected for specific use in port infrastructure works”, he stated.

The process of paying in resources will follow strict asset segregation and traceability guidelines required by control bodies. According to APS, the funds will continue to be linked to the port authority, but will remain unavailable for any other purpose that is not related to the tunnel project.

The financial structure was defined within the sponsored concession model of the future project, considered one of the most anticipated in Baixada Santista and strategic for the mobility and logistics of the Port of Santos.

Pomini also highlighted that the segregated account represents a decisive step to guarantee financial predictability and institutional confidence in the project.

“We are taking a decisive and safe step so that the Santos-Guarujá tunnel schedule is fulfilled with full public financial responsibility”, he declared.

In addition to authorizing the account, APS also requested that Banco do Brasil formally communicate to Artesp the implementation of the blocking of resources, a procedure considered essential for the disbursement flow provided for in the public-private partnership contract.

With the account active, the project advances to the next stages of technical and financial execution. The next step will be the creation, between the Union and the Government of the State of São Paulo, of a joint accountability instrument, as required by the TCU.