Three companies were fined by Armenia’s State Commission for Protection of Economic Competition for conspiring to rid government procurements, according to reports.
More than $100,000 in fines has been issued to Yerekunk, Armaras Yus and Cear Group following an inquiry by authorities that found the companies to have colluded to rig contracts for projects on orphanages, nursing homes and boarding schools.
In addition to the fines, the companies will also be banned from future public tenders for one year.
According to reports, the companies were offering different prices in various tenders for the same goods, leading to deliberate wins and losses for the companies.
Full Content: Arka News Agency
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