Saudi anti-trust authority to file lawsuit against cement firms for ‘illicit’ activity

20/02/2019 Argaam

 

The Saudi General Authority for Competition (GAC) will file a penal lawsuit against unnamed cement companies for complicity in illicit activities within a cement industry cartel in the Western Province.

 

The decision came after investigations were launched against the cement producers, which GAC says had planned to distribute quotas, monopolize the market and control prices, GAC said in a statement after its board meeting on Tuesday.

 

No further details were mentioned about the cement firms in question.

 

GAC in December approved a decision to take legal action against the cement producers, which had allegedly been planning to form a "cartel" or illegal group, the authority said in its statement.

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.