EPC Project
An “Engineering, Procurement and Construction” or short EPC-Project is a particular form of contracting arrangement used in some industries where the EPC-Contractor is made responsible for all activities from design, procurement, construction, to commissioning and handover of the deliverables to the Owner.
Under an EPC contract, We as a contractor is obliged to deliver a complete facility to a developer who needs only "turn a key" to start operating the facility; hence EPC contracts are sometimes called turnkey construction contracts
In addition to delivering a complete facility, the we as a contractor will deliver that facility for a guaranteed price by a fixed date and it shall be perform to the specified level. Failure to comply with any requirement will attract an monetary liabilities. We as EPC contractor coordinates all design, procurement and construction work and ensures that the whole project is completed as required and in time. We Do undertake actual site work also.
Various abbreviations used for this type of contract are LSTK for lump sum turn key, EPIC for engineering, procurement, installation & commissioning and EPCC for engineering, procurement, construction and commissioning Use of EPIC is common.