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Government announces R$10bn plan for Port of Santos

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The federal government announced on Monday (11) an investment plan for the Port of Santos totaling R$10.64 billion for the 2024-2028 period. The amount will comprise federal, São Paulo state, and private funds. Just over half of the planned amount, approximately R$5.8 billion, will be allocated to building the underground tunnel connecting the municipalities of Santos and Guarujá.The plan, created by the Ministry of Ports and Airports and the Santos Port Authority (APS), outlines 12 projects deemed strategic for the port region. Of the total planned investment, R$6 billion will be provided by the federal government, R$3.6 billion by the state of São Paulo, and R$1 billion by the private sector.Silvio Costa Filho, minister of Ports, emphasized that this marks the most significant volume of investment planned for Santos to date. He stated, "In the last cycle (2019-2023), the federal government allocated only R$71.78 million. That is a clear demonstration that the current administration prioritizes the Port of Santos." However, the Lula administration’s first year faced criticism from the port sector for a lack of initiatives in the region.According to the minister, federal funds will be sourced from the government’s general budget and APS’s cash reserves, which currently stand at around R$2.8 billion. Regarding the underground tunnel, funding will be divided between the federal and state governments, with São Paulo’s contribution totaling around R$3 billion. The second-largest investment will be the transfer of the passenger terminal to the Valongo area, estimated at R$1.4 billion, funded by federal and private sources."This work is already underway. We want to create a tourism hub in Santos, connecting the passenger terminal to the Valongo Park, which will feature restaurants, stores, and leisure areas. The Valongo park will be inspired by Puerto Madero in Buenos Aires," said the minister. "By investing in Santos’ tourism potential, we are enabling the city’s service sector to grow." The...

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