What is the contractor of a turnkey project called?
The contractor of a turnkey project is called the general contractor (or main supplier, direct supplier or main contractor). Synonyms for the phrase turnkey project are a turn-key solution, turn-key delivery, or ready-to-use.
What is an EPC project?
Construction Companies that deliver EPC Projects are usually meant to as EPC Contractors. Into the EPC stage of the project is also known as the Execution phase which usually follows what is known as a FEED or Front End Engineering Design phase. The FEED is an elementary engineering design used as the basis for the EPC level.
What is EPC & how does it work?
EPC stands for “Engineering, Procurement, and Construction”. That is a specific form of contracting planning used in particular industries or projects where the EPC Providers is made accountable for all the activities from design, procurement, construction, to commissioning also delivery of the project to the End-User or Owner.
Do EPC contractors have a schedule & budget?
Generally, the EPC Contractor has to perform and handed-over the project within an agreed time and budget. That places the risk for schedule and budget on the EPC Contractor.
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