This point is not yet clear, they are saying for the new projects, it’s only pass through via P&L.
As far my experience says, when u bid in a EPC job:
- u bid on your own or
- u bid along with a partner for construction, in the Bid itself, u only do E&P - This is how all western Engineering giants bid mega projects in Middle East or in geographies, where they think risk is more.
3 ) If you outsource after bid/getting the job as per point 1) the risk for execution / construction is with the main bidder, even though it’s a pass through via P&L, owner can make the main bidder liable for delays in Construction.
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Only via point 2) they are not liable for execution/construction.
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These points to be clarified by the management, may be in the next concall, Request to raise/ask these questions.
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