Massive penalty for tender collusion

01 Feb 2016 | Admin Author

The R1.46 billion penalty for tender collusion that the Competition Commission slapped on 15 construction companies on Monday is the commission's single biggest settlement involving private companies to date.

The settlement was reached with the Competition Commission after the 15 companies came clean about the extent of their collusion.

The contested projects are estimated to be worth about 47-billion rand and took place during 2006 and 2010.

Twenty-one firms responded to the offer. After an investigation the 15 firms which were fined a total of R1,463,814,392 were:

-- Aveng: R306,576,143;

-- Basil Read: R94,936,248;

-- Esorfranki: R155,850;

-- G Liviero: R2,011,078;

-- Giuricich: R3,552,568;

-- Haw & Inglis: R45,314,041;

-- Hochtief: R1,315,719;

-- Murray & Roberts: R309,046,455;

-- Norvo: R714,897;

-- Raubex: R58,826,626;

-- Rumdel: R17,127,465;

-- Stefanutti: R306,892,664;

-- Tubular: R2,634,667;

-- Vlaming: R3,421,662;

-- WBHO: R311,288,311.