EPC

EPC stands for…

Engineering

Procurement

Construction Services

In this model the Owner only contracts the EPC Service provider, usually using a lump-sum contract. The EPC Service provider takes over the responsibility to fulfil the Owner’s requirements, including but not limited to time, cost and quality.

Advantages:

·One point of contact for the Owner

·All aspects of engineering, planning and execution are covered by the EPC Service provider

·Permitting is within the EPC Service provider’s scope, except for some permits, which are required by law to be obtained by the Owner directly.

·Site safety is the sole responsibility of the EPC Service provider

·Minimal legal cost for the Owner (only one contract)

·Minimal administration costs due to only one interface

·Cost savings (while the initial contract price is usually higher, the final project cost is on average 4% lower, due to the elimination of interface-related variation claims)

·Ideal approach for time sensitive projects (time to market)

·Better suited for projects <50.000m2

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