Where the money for Belgrano Cargas works comes from

thesis There is a consequence neither norm writes down and that comes from reading them together: the budget for northern rail works is capped by whatever the rolling stock fetches. The decree ties a single source — the auction and sale of locomotives and wagons — to a single destination — paying for the concessionaire's works — and adds nothing else to it. ⇒ For the supplier that means two opposite things and both matter: collection risk improves, because the money does not compete with other beneficiaries inside a multi-purpose trust; and the size of the market does not yet exist as a number, because it depends on an auction that has not happened. The date that number appears is not 11 November — that is when bids open — but the date of the rolling-stock auction and of the Tribunal de Tasaciones appraisal, which is the only floor written down so far. ⚠️ What could break this reading: the Ministerio de Economía endowing the trust with resources beyond the rolling stock when it issues its operating rules — section 2 empowers it to "assign the resources provided for herein", and there the ceiling moves. thesis