GAC says 2 contractors to pay SAR 63.8M in settlement on collusion

12/07/2024 Argaam
Logo of the General Authority for Competition (GAC)

Logo of the General Authority for Competition (GAC) 

The General Authority for Competition (GAC) reached a settlement agreement with Mohammad Ibrahim Al-Hussein General Contracting Establishment and Abdulaziz Al-Hassan Al-Muqbil Trading Establishment for a total of SAR 63.83 million. 

 

According to two statements released by GAC on X, the settlement amount with Mohammad Ibrahim Al-Hussein Establishment was SAR 56.4 million, while the settlement for Abdulaziz Al-Hassan reached about SAR 7.37 million. GAC said the two establishments committed violations of collusion in government tenders. 

 

The authority added that the establishments were required to correct their statuses and eliminate any behavior that violates the competition law or its executive regulations. 

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