EPC projects
EPC projects (Engineering, Procurement, Construction) involve a single contractor managing a complex project from initial design to final handover, delivering a complete, functional facility (a "turnkey" project) for a fixed price and timeframe, transferring cost/schedule risks from owner to contractor, common in large infrastructure and industrial sectors. This model centralizes accountability, handling all engineering design, material sourcing, and physical construction under one entity
- Engineering: Detailed design, process flow diagrams, equipment specs, safety, and regulatory compliance.
- Procurement: Sourcing, purchasing, and logistics for all necessary equipment, materials, and services.
- Construction: Building the facility, including site prep, installation, and commissioning.
- Single Point Responsibility: One contractor handles everything, simplifying communication and accountability for the owner.
- Lump Sum Turnkey (LSTK):Often a fixed price for a completed, operational asset, providing cost certainty for the client.
- Risk Transfer:Shifts schedule and cost risks to the EPC contractor.
- Cost effectiveness: redictable, fixed costs reduce financial surprises.
- Time management: Streamlined process with clear timelines.
- Single owner concept:Owner receives a ready-to-operate asset without managing multiple vendors.