The Competition Tribunal was expected to hear the settlement cases of JSE-listed construction firms Stefanutti Stocks and Hochtief Construction this week after the parties admitted to collusive behaviour and agreed to further penalties.
Stefanutti was, in June, given a R306.89-million fine after admitting to collusive tendering as part of the Competition Commission’s Construction Fast-Track Settlement Process. The Competition Tribunal had confirmed this settlement at the end of July.
On July 31, the company announced that it had agreed with the commission to pay a further R55.8-million for contracts that had fallen outside the Construction Fast-Track Settlement Process, while Hochtief Construction was slapped with a R1.9-million penalty.
The parties, in a 2005 eThekwini municipality undersea tunnel construction tender, in Durban, agreed to add a margin of R3-million to the respective bids and pay the losing bidder R1-million.
Stefanutti had formed a joint venture comprising Nishimatsu, Dura, Group Five and Grinaker-LTA for the bid, and Hochtief had partnered with Concor for the potential project.
Stefanutti had also admitted to tendering collusively for the Xstrata Coal’s Goedgevonden colliery in 2007.
Stefanutti Stocks and Aveng subsidiary Grinaker-LTA agreed that Grinaker-LTA, which had, after the fact, applied for corporate leniency, would submit an uncompetitive bid for the construction of the Goedgevonden colliery to ensure Stefanutti won the bid.