Anti-Trust Regulator of Saudi Arabia Imposes 140 Million SR Fine on Cement Manufacturers

General Authority for Competition (GAC), the anti-trust authority of Saudi Arabia, imposed a fine of 140 million Saudi Riyal (SR) on 14 cement manufacturing companies for indulging in a conspiracy to hike cement prices in the country. Further, each of the cement producers involved in the conspiracy have been charged a fine of 10 million SR for violating provisions of Saudi Arabia’s Competition Regulations, 2004