Al-Marsad newspaper: The Board of Directors of the General Authority for Competition issued its decision approving taking procedures for investigation, research, collection of inferences and investigation, on companies:
Company names
Al-Safwa Cement, Al-Madina Cement, Umm Al-Qura Cement, Al-Jouf Cement, Qassim Cement, Najran Cement, Southern Province Cement, United Industrial Cement, Yamama Cement, Riyadh Cement (Saudi White Cement Company), and Cement Arabia, Saudi Cement, Yanbu Cement, and Hail Cement, for proven violation of Paragraph (1) of Article (4) of the Competition Law.
Violations
Paragraph (1) of Article (Fourth) of the Competition Law issued by Royal Decree No. (M/25) states the following: “Practices, agreements or contracts between competing or potentially competing firms are prohibited, whether the contracts are written or oral. Whether explicit or implicit, if the aim of these practices and agreements or establishments that enjoy a dominant position is any practice that limits competition between establishments, in accordance with the conditions and controls set out in the regulations, especially the following: Controlling the prices of goods and services intended for sale by increasing or decreasing, or Installation, or in any other way detrimental to project competition.
Fines
The decisions included the imposition of financial fines of (10,000,000) ten million riyals on each facility, with the decisions being published at its expense.
