engineering, procurement and construction (EPC) contract

Engineering, procurement and construction
In an engineering, procurement and construction (EPC) contract, the EPC contractor (EPCC) agrees to deliver the keys of a commissioned plant to the owner for an agreed amount, just as a builder hands over the keys of a flat to the purchaser. The EPC way of executing a project is gaining importance worldwide. But it is also a way that needs good understanding, by the EPCC, for a profitable contract execution.

Contents
1 Reasons for choosing EPC
2 Coordination and communication
3 Global arena
4 Cost variation
5 Monitoring by owner and EPCC
6 Key issues
7 For the owner
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