https://www.engineeringnews.co.za

Stefanutti to pay additional R54m Competition Commission penalty

31st July 2013

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

Font size: - +

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.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Sika South Africa
Sika South Africa

Sika South Africa is a trusted partner for the nation’s infrastructure, commercial, residential, and industrial sectors.

VISIT SHOWROOM 
Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.071 1.242s - 141pq - 2rq
Subscribe Now