EPC Contractor Services Engineering, Procurement, & Construction Expertise
Under an EPC contract, the contractor designs the facility, procures the necessary equipment and materials, and builds the project. In most cases, the EPC contractor carries the project risk for the schedule as well as the budget in return for a fixed price or guaranteed maximum price (GMP), depending on the agreed upon scope of work. When the scope is restricted to engineering and procurement, this is referred to as an EP, E and P, or E+P contract. This is often done in situations in which trade contractors are hired to perform the different scopes of work or when the owner does the construction.