Turnkey container energy storage EPC contract price in Vietnam

Are foreign contractors taking on EPC contracts in Vietnam?

Foreign contractors have been taking on EPC contracts in Vietnam up until recent years. About ten years ago, Chinese contractors accounted for 90% of EPC contracts for different projects in Vietnam, ranging from electric power, petroleum, metallurgy, extractive to chemical and mechanical.

What is EPC/turnkey & LSTK?

This form of contract is known as “EPC/Turnkey” or “LSTK” for “Lump Sum Turn Key”, and sometimes also “EPCC” which is short for “Engineering, Procurement, Construction and Commissioning”.

What is an EPC contract?

EPC stands for Engineering, Procurement, and Construction. An EPC contract is a type of construction contract where the contractor takes responsibility for the engineering, procurement, and construction activities of a construction project and delivers a completed final project to the employer or owner.

What are EPC companies?

Hence, EPC companies are involved in engineering, procurement, and construction services on a contract basis. EPC companies primarily engaged in construction projects, however, the sectors they cover can vary. The EPC contract has been in Vietnam since the late 1990s.

Which industrial projects have been successfully implemented by Vietnam machinery installation Corporation – JSC?

Besides, many industrial projects have been successfully implemented by the Corporation, such as Ha Long Cement Factory, But Son Cement Factory, Bai Bang Paper Factory, Minh Phuong Textile Factory. Vietnam Machinery Installation Corporation – JSC (LILAMA) is an enterprise established in 1960.

Which EPC activities require an operational office?

This includes, among others, branches, operational offices, plants, workshops, construction sites, construction, installation and assembly works, etc. Almost all EPC activities require an operational office to be established subject to the relevant licensing (see above), which in turn constitutes a PE.