EPC / Turnkey Project:
Under an EPC contract, we 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. SECL must deliver that, facility for a guaranteed price. By a fixed date and it must perform to the specified level. Failure to comply with any requirement will usually result in our incurring monetary liabilities. We coordinate all design, procurement, and construction work and ensure that. The whole project is completed as required and on time. They may or may not undertake actual site work.
Turnkey is as delivering a location that is ready for occupation. The turnkey process includes all of the steps involved to open a location. Including the site selection, negotiations, space planning, construction coordination, and complete installation.
Turnkey refers to something that is ready for immediate use. Generally used in the sale or supply of goods or services. The term is common in the construction industry, for instance. Which refers to the bundling of materials and labor by sub-contractors. A turnkey job by a plumber would include the parts (toilets, tub, faucets, pipes, etc.). As well as the plumber’s labor, without any contribution by the general contractors.
Turnkey projects can also be extended, known as a turnkey plus. where there is perhaps a small equity interest by the supplier. And it will, later on, continue its operation through a management contract or licensing.
The term turnkey is also often used in the technology industry, most commonly to describe. A pre-built computer “package” in which everything needed to perform a certain type of task (e.g. audio editing) is put together by the supplier and sold as a bundle. This often includes a computer with pre-installed software, various types of hardware, and accessories.
A turnkey project is a project in which a builder/developer contracts to construct. A completed facility that includes all items necessary for use and occupancy. All that is required of the buyer to begin using the facility is to turn a key in the new door lock and enter.
Turnkey a design/build entity provides financing (and possibly land acquisition and development), turning over the project.
Turnkey project will provide training for its staff. They will provide training in foreign countries if necessary. The trainer of the turnkey project will take the total responsibilities for training.
The turnkey project has a separate entity. That is to set equipment, operate and bring positive results, and monitor overall responsible.