Economic Development Minister Ebrahim Patel says the voluntary settlement agreement between the state and seven major construction groups over transforming the industry does not guarantee an increase in national infrastructure spend. However, the agreement might mean Murray & Roberts, Group Five, Wilson Bayly Holmes-Ovcon (WBHO), Stefanutti Stocks, Raubex, Basil Read and Aveng — which reached an agreement with the government last year after claims they colluded in the 2010 Soccer World Cup projects — might see better days again, even as Group Five still refuses to acknowledge guilt over certain allegations by the Competition Commission. "The view of all the participants is that this settlement agreement is a ground-breaking model for effective and massive transformation," Patel said on Monday. He also said an industry summit would be held within the next four months to further transform the sector. "The settlement agreement is not a direct quid pro quo that government will increase ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.