Engineering-procurement-construction (EPC) companies deliver projects under a single contract, taking responsibility for design, materials and building works. The model transfers project risks from owners to contractors, while providing as much certainty around cost as is possible on large construction projects.
The approach emerged in the 1970s oil and gas sector before expanding into power generation, infrastructure and industrial facilities.
EPC firms evolved from construction-only roots to handle engineering and procurement. Digital technologies now enable virtual design, remote monitoring and automated procurement. Many EPC contractors developed specialist divisions for renewables, life sciences and data centres.
The model suits projects with defined specifications. Oil companies use EPC for refineries, utilities for power plants, and manufacturers for production facilities. Governments employ EPC for transport infrastructure. Pharmaceutical companies commission facilities through EPC contracts. Mining firms rely on EPC delivery for processing plants.
Fluor Corporation
Market cap: $4.85bn
HQ: US
Fluor Corporation provides engineering, procurement, construction and maintenance services across energy, chemicals, infrastructure and mining sectors. The firm’s EPC portfolio evolved from oil and gas roots to include renewable energy and critical minerals projects. Its modular construction approach reduces on-site labour requirements.
The company works on government contracts as well as commercial, and its clients include Shell, ExxonMobil and Rio Tinto. Fluor maintains fabrication yards in Mexico, Canada and the Philippines.
Read More: Top 10: EPC Companies | Construction Digital