This short briefing note sets out the principal characteristics of
EPC and EPCM contracts, looking in particular at some of the
issues which may inform a potential lender as to the bankability of
the project. It assumes, of course, that the project is viable from an
economic perspective but that the project structure is not settled.
Engineering procurement and construction contracts have
become the favoured procurement method for the delivery of
large scale infrastructure projects, particularly those financed with
off balance sheet debt. Their time focused, cost certain approach
offers a compelling response to the need for what is typically
described as bankability.
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