Saudi Arabia: Companies fined SR6.4 million for monopolistic practices

The agency’s task is to strengthen fair competition and block monopolistic practices that are harmful to the market and consumers.

Earlier this month, the same agency announced that it had imposed fines totaling more than 77 million Indian riyals on other contracting firms involved in collusion and coordination in government contracts.

The commission, which is tasked with ruling on competition law violations, imposed fines totaling 77.5 million Saudi riyals on the companies involved.

The office said it would publish the commission’s full decision as soon as it became final.

In June, the agency announced it had imposed fines totaling 14.8 million riyals on six companies involved in the transportation of cars and other goods after they were found to have participated in a conspiracy to inflate prices.

In April, the Authority fined 14 cement companies 10 million riyals for colluding to raise cement prices and monopolize the market, violating Saudi competition law, which prohibits actions and agreements between competing companies aimed at controlling the prices of goods and services.

The Riyadh court dismissed the companies’ appeals against the decision, making it final. The companies were also ordered to publish the penalty decision at their own expense.