What is the Full form of EPC?
The full form of EPC is Engineering, Procurement and Construction. In the construction sector, EPC is a popular type of contract. A contractor-client relationship is defined here. It encompasses all the information about the construction project such as project design, material procurement and the labour & equipment needed for the completion. It also involves the time limits for the construction process and the amount payable to the contractor.
Few points about EPC
- The contractor and client will address each stage in-depth to prevent the ambiguity and variance with the client’s requirement.
- Whenever the contract is signed, the contractor must maintain the costs under budgets and finish the assignment within the timeline specified.
- The arrangement under which an EPC contractor is responsible for completing the project within the specified budget and time is generally referred to as an LSTK (Lump Sum Turn Key) Contract.
List of Indian EPC companies
- Larsen & Toubro Limited
- Gammon India
- Patel Engineering Ltd.
- Era Infra Engineering
- Nagarjuna Construction Company Ltd
- Sadbhav Engineering Limited
- Hindustan Construction Co. Ltd.