Government of São Paulo formalizes billion-dollar loan for works on the Santos-Guarujá tunnel

The Government of the State of São Paulo formalized a loan of approximately R$2.57 billion from Banco do Brasil to finance part of the works on the tunnel that will connect Santos to Guarujá. The project, considered one of the main historical demands for urban mobility in Baixada Santista, should significantly improve the connection between the two cities, currently dependent on ferries and sea crossings.

The project foresees R$6.8 billion in investments for the construction of the asset. The Government of São Paulo and the federal government will together pay more than R$5 billion as a contribution to the work, and the rest of the amount will be paid by the tunnel concessionaire, Motta-Engil.

The work is seen as strategic not only for the mobility of the local population, but also for the logistics of the Port of Santos, the largest in Latin America.

The formalization of the contract was attended by authorities such as Vice President Geraldo Alckmin, Finance Minister Dario Durigan, Ports and Airports Minister Tomé Franca, São Paulo Finance Secretary Samuel Kinoshita, and Banco do Brasil President Tarciana Medeiros. The presence of these representatives reinforces the institutional weight of the project. The expectation is that the work will generate jobs and boost the regional economy throughout its execution.

“It is financing with a 23-year term extension. It is a very beautiful project for the entire Baixada Santista and for Brazil”, stated Paulo Kinoshita during the event.

According to the Minister of Ports and Airports, with the signing of the credit operation, works could begin this year. “The works should begin in 2026, and the deadline for completion is 48 months, until the end of 2030” declared Tomé Franca.