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Mayor welcomes R135m settlement in construction collusion matter<p>​I welcome the dispute settlement of approximately R135 million between construction firms and the City of Cape Town, the only metro to succeed in bringing a claim to the point of settlement arising from the FIFA World Cup construction collusion. <br><br>Attorneys acting for the City advised acceptance of the latest settlement proposal by construction firms ahead of the arbitration hearings, and following earlier rounds of talks.<br><br>Throughout the process, the City has emphasised that any settlement be a matter of public record, and not subject to confidentiality.<br><br>The settlement will see R93 million in cash payments to the City over a stipulated timeframe, and a minimum R42,5 million social investment of solar energy systems, guaranteed to the City for sites of its choosing.<br>This settlement serves to dissuade collusion of this type in the future, and concludes what would otherwise have been a protracted arbitration.<br><br>The construction industry has felt the impact of the last decade of weak economic growth, and the recovery of this sector is crucial to growth and jobs.<br><br>Cape Town is committed to enabling meaningful economic growth, backed by a programme of raised infrastructure investment and faster land release for development, especially for more affordable housing. <br><br>We look forward to constructive partnerships with all stakeholders towards these goals, based on principles of fairness and public value.<br>  <br><strong>End</strong></p>2022-05-17T22:00:00ZGP0|#1d539e44-7c8c-4646-887d-386dc1d95d70;L0|#01d539e44-7c8c-4646-887d-386dc1d95d70|City news;GTSet|#62efe227-07aa-45e7-944c-ceebacca891d;GP0|#904f8ac3-ad18-4896-a9a8-86feb1d4a1b7;L0|#0904f8ac3-ad18-4896-a9a8-86feb1d4a1b7|StatementsGP0|#814caf10-9674-4da8-9d34-a5214058eba6;L0|#0814caf10-9674-4da8-9d34-a5214058eba6|agreements;GTSet|#2e3de6c1-9951-4747-8f53-470629a399bb;GP0|#0fcca439-6bb4-49f7-9065-0f9a4aa226ec;L0|#00fcca439-6bb4-49f7-9065-0f9a4aa226ec|Fifa;GP0|#90b49a62-96e2-436a-9c68-187c9ab33534;L0|#090b49a62-96e2-436a-9c68-187c9ab33534|Mayor10

 

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