Everything You Need to Know About EPC Contracts in Engineering and Designing
In today's fast-paced infrastructure and industrial sectors, delivering projects efficiently, on time, and within budget is crucial. One method that ensures streamlined project execution is through an EPC Contract . Especially in the field of engineering and designing , EPC contracts have become the backbone of successful project delivery. Let’s explore what EPC contracts are, how they work, and why they are critical for engineering and design-driven projects. What is an EPC Contract? EPC stands for Engineering, Procurement, and Construction . Under an EPC contract, the contractor is responsible for the entire project, from the initial engineering designs to procuring all necessary equipment and finally constructing the facility or infrastructure. The client simply defines the project’s goals and scope, and the EPC contractor handles the rest, delivering a fully operational project. This "turnkey" approach makes EPC contracts highly popular in industries such as ener...