JSE-listed construction firm Stefanutti Stocks this week agreed to pay a further R55.8-million penalty to the Competition Commission.
The latest fine was for contracts that had fallen outside the Construction Fast-Track Settlement Process, which was initiated by the Competition Commission in 2011 to incentivise firms to disclose bid-rigging in the construction sector in return for lower penalties.
The construction firm was, in June, given a R306.89-million fine for 21 projects that were secured and completed under collusive tendering.
Stefanutti noted on Wednesday that the latest Competition Commission penalty would be paid in four tranches over three years.