GAC fines 14 cement firms on price collusion

Logo of The General Authority for Competition

The General Authority for Competition (GAC) fined 14 cement producers in the Kingdom, as they colluded to raise cement prices.

Several complaints were received that several companies in the cement sector collided to control prices in violation of the Competition Law. Therefore, GAC board approved to start investigations into these claims, the authority said in a statement.
 

Investigations proved that these companies violated the competition law, as they raised cement prices.
 

GAC imposed a penalty of SAR 140 million on all firms, or SAR 10 million each.
 

The companies are Al Safwa Cement Co., City Cement Co., Al-Jouf Cement Co., Umm Al-Qura Co., Qassim Cement Co., Najran Cement Co., Southern Province Cement Co., United Cement Industrial Co., Yamama Cement Co., Riyadh Cement Co. Arabian Cement Co., Saudi Cement Co. and Hail Cement Co. and Yanbu Cement Co.
 

The resolutions were published at expense of the violators, GAC added, noting that all resolutions are final as the Administrative Court of Appeal in Riyadh dismissed the challenges filed by those firms.