MEGA PROJECT CONSTRUCTION CONTRACTS: A CONTRACTOR'S PERSPECTIVE(Chapter 21A)

摘要

This chapter focuses on two project delivery models that are commonly used in the mining and resources industries, and the differences between the two models: (1) engineering, procurement, and construction (EPC); and (2) engineering, procurement, and construction management (EPCM). Although the two acronyms are very similar, they are very different project delivery models. Of the two, EPC is the more widely known and understood project delivery method, and is commonly used in many industries. EPC has traditionally been associated with projects funded by limited-recourse debt. EPCM is less well known and less well understood. EPCM is commonly used in mining, but is increasingly being used in other industries, such as oil and gas and power generation. EPCM is particularly widely used on "mega projects," for reasons to be discussed later in this chapter. It too is used in conjunction with projects that are financed on a limited- or nonrecourse basis; however, that financing has to be approached by project owners and their financiers in light of the commercial structure of an EPCM deal.