The full form of EPC is Engineering, Procurement and Construction. EPC contracts are a common type of agreement in the construction industry. Here, the term “contractor-client relationship” is used. It covers all aspects of the construction project, including project design, material sourcing, and the labour and tools required for completion. It also covers the construction process’ time constraints and the contractor’s payment obligations.
Few Points about EPC
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- To avoid confusion and deviation from the client’s requirements, the contractor and client will thoroughly discuss each stage.
- When the contract is signed, the contractor is responsible for keeping expenses within agreed-upon ranges and completing the task by the deadline.
- An LSTK (Lump Sum Turn Key) Contract is the legal arrangement whereby an EPC contractor executes the project within the allotted spending limit and timeline.
List of Indian EPC companies
- Larsen & Toubro Limited
- Gammon India
- Patel Engineering Ltd.
- Era Infra Engineering
- Nagarjuna Construction Company Ltd
- IVRCL
- Sadbhav Engineering Limited
- Hindustan Construction Co. Ltd.