São Paulo public company Dersa has launched a tender process for financial consultants to prepare an economic plan to obtain financing for its R$1.89 billion (US$783 million) Santos-Guarujá underwater tunnel project.

The 10-month consultancy contract will involve providing technical and operations support to Dersa so it can better negotiate loan agreements with the IDB and Brazil's national development bank BNDES.

Proposals must be submitted by March 17. Companies or consortia formed by two companies can submit proposals.

The new tunnel would connect the coastal cities of Santos and Guarujá.

The tunnel would run 1.7km long, carry six lanes of traffic and be at an estimated depth of 35m. A process for pre-qualification for those firms showing an interest in the project has been started. The contract is not a Public private partnership.

Single firms are not being allowed to bid for the project, while groups applying should not contain more than four parties and at least two have to be Brazilian.

See tender notice: http://www.dersa.sp.gov.br/negocios/licitacoes/editais.asp

See project video below: