Construction company GVK-Siya Zama has admitted to collusion and agreed to pay an administrative penalty of just over R6-million, the Competition Commission said on Tuesday.
GVK was charged with price fixing, market division and collusive conduct in the construction industry in contravention of the Competition Act.
This matter is one of the remaining cases under the broader construction cartels investigation that was initiated in 2009, the commission said.
The commission stated that GVK had, between 2008 and 2010, entered into an agreement with various other industry players to collude on tenders for the construction of a hospital, a shopping mall and a warehouse and office building project.