What is EPC? What is turnkey project?

　EPC is English: Engineer, Procure, Construct acronym. 　　Its Chinese meaning is to be responsible for the "design, procurement, and construction" of a project, which is similar to the commonly known meaning of general project contracting. 　　general contracting: General project general contracting refers to the project responsible for the design, procurement of equipment, transportation, insurance, civil engineering, installation, commissioning, trial operation, and finally the unit is handed over to the owner for commercial operation. The entire process is called the general contracting of the project. 　　EPC and general engineering contracting have similar meanings. 　　There are also explanations in general engineering contracting: EPC in design, procurement and construction is the abbreviation of English Engineering, Procurement and Construction. Engineering means "design". When "design" is understood, the meaning of Engineering is quite different from Design, which can also be understood as "design". Generally speaking, Engineering refers to the design of the mechanisms and processes of machines, equipment, devices, systems, etc. based on scientific and engineering principles in manufacturing, processing, etc. ； Design refers to the design, aesthetic and artistic treatment of the spatial division, functional arrangement, connection between various parts, and appearance of buildings and structures. It can be seen from this difference that design-procurement-construction contracts are generally not suitable for the procurement of construction projects. 　　Engineering, procurement and construction (EPC)/turnkey project general contracting means that the project general contracting enterprise undertakes the design, procurement, construction, trial operation services and other work of the project in accordance with the contract, and is fully responsible for the quality, safety, construction period, and cost of the contracted project. 　　Engineering (engineering design) Procurement (equipment procurement) Construction (hosting construction) Foreign engineering companies (called design institutes in China) are responsible for carrying out projects for owners. This is this model, and they are responsible for all three stages. ； 　　Many domestic companies also follow this model and are doing very well, such as China Electrical Equipment Corporation.