Key Problems Analysis Of The Success Of EPC Project From The Case Of Indian Electric Project

Along with the rapid development of globalization of economy and the implement of the national"Going Abroad"strategy, the scale of the business in contracting overseas projects is being expanded continuously, the position of multi-outlet market has been formed, cooperation field has continued to expand, and the international competitive power has being obviously strengthened. For a long term, the fields for our country's contracting overseas projects mainly includes building/architecture, transportation, rock oil/chemical plant and electrical power etc.. According to the statistic of national Commerce Department, the annual turnover for our country's contracting overseas projects is more than 200 billions US dollars and the year-on year increase is more than 30% from 2004.In addition, the scale of contracting oversea project is larger than ever. More and more larger projects with each contract value higher than 100 million US dollars have being signed continuously and the same have more technical contents. According to the statistic, 55 projects with each contract value more than 100 million US dollars and 5 projects with each more than 1 billion US dollars have been signed from January to September 2006, and is 3 times of the same in 2001.EPC contract is the international popular method in the project construction field for recent years and is also the main contract method for our country's oversea project. According to the statistic of national Commerce Department, EPC contract is more than 85% of total contracted oversea projects. The total contract value gained by our country's company in the fields of Asia and Africa EPC power project is more than 10 billions US dollars each year. Considering the characteristic of higher risk and shorter time schedule for EPC project, the hot topics for all of EPC contractors is how to implement the EPC projects best. This article produces the examples of Indian EPC power projects which have been finished by author's company, and summarizes that the time schedule, project performance and claim for compensation etc. are the key points for implementing the EPC contract successfully.