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Non-turnkey and turnkey projects are the opposite of each other. Turnkey projects are those that contract a firm to fully design, construct and equip a project and then turn it over to the purchaser.
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Let me attempt to answer part of the question - about Financial Closure. The explanation provided by World Bank can be regarded as useful. What does financial closu…re mean in the PPI Project Database? The definition of financial closure varies among types of private participation. For greenfield projects and concessions, financial closure is defined as the existence of a legally binding commitment of equity holders or debt financiers to provide or mobilize funding for the project. The funding must account for a significant part of the project cost, securing the construction of the facility. For management and lease contracts, a contract authorizing the commencement of management or lease service must exist. For divestitures, the equity holders must have a legally binding commitment to acquire the assets of the facility. The Database includes only projects that have reached financial closure. Best, Manoj John
In the turnkey busines the word turnkey tells you that the business is all inclusive. Everything is taken care of for you. So in this example the design, marketing, content, b…illing and hosting of your website are taken care of for you. You would just need to work on more marketing of your web site.
In turn key contract, the contractor is entrusted to design, construct, commission & handover the project to the employer. The employer will make the lump-sum payment to the c…ontractor at the different stages of work as per the agreement. This type of contract is useful when the work has to be completed at a very short period. The whole risk is borne by the contractor.
The house is ready to be lived in with very little change needed. You should only have to add decorations and move your items in. Merry Christmas you have a house.
We are professional steel tower manufacturer -- Ningbo Huyong Electric Power Material Co., Ltd. Our company specialized on manufacturing and exporting transmission line towers… and communication tower for 18 years. Hope to find general contractor, and cooperate with you. My Email: email@example.com
A ready-to-move-into house A ready-to-move-into house A ready-to-move-into house
•One of the special modes of carrying out international business is a turnkey project. It is a contract under which a firm agrees to fully design, construct and equip a manu…facturing/ business/ service facility and turn the project over to the purchaser when it is ready for operation for a remuneration
EPC is a contract comprising Engineering, Procurement and Construction. Turnkey is a contract comprising Engineering, Procurement and Construction. If you look… at the definition , you may find no difference between two concepts, but there are some differences between two concept as follows; 1- In EPC, an employer will provide basic engineering to a contractor and the latter shall perform detailed design based of received basic design. 2- In Turnkey , Employer will only provide certain technical specifications of the project and it is the responsibility of the contractor to prepare basic and detail design of the project. 3- In turnkey, contractor is responsible to perform construction and commissioning, start-up and take over of the plant to employer, but in EPC, it may be the responsibility of other third person to do commissioning and start-up.
Also known as a "crate engine" a turnkey is a complete replacement. The engine is taken out of the shipping crate assembled and ready to be installed.
advantages - it allows countries to share technological know-how, like middle eastern companies do not want USA and other countries to take part in their oil refining and want… to profit from it themselves, but do not have the knowledge of the process, the middle east enters into a turnkey project to gain the technological know-how. disadvantages - you are automatically creating a competitor, if your technology is a source of advantage over competitors, allows this information is providing it to the competitor.
TURNKEY CONTRACT A TURNKEY project is an EPC Contract with total responsibility of Engineering, Procurement and Construction on the EPC Contractor. Owner/Client simply provide…s the contract specification for the project to be completed within budgeted time limits and quality requirements. EPC contractor is the sole power over the project within project specifications. EPC ~ LOOSE TURNKEY CONTRACT An EPC contract is a LOOSE TURNKEY project wherein owner/client must share some of the technical/engineering/EPC part with the contractor. Both owner and client share responsibility for project completion though majority responsibility lies with the EPC contractor. Here, owner/client wants to have some direct control over quality/timeline/budgeted resources over EPC contractor.
Many government-owned public housing projects are turnkey projects. A private developer undertakes all activities necessary to producing the project, including land purchases,… permits, plans, and construction, and sells the project to the housing authority
In telecom,the process of installing a new cell site is a turnkey project.
I just found the explanation of "turnkey" and I am not sure the meaning of "turnkey procurement", it might be something similar, hope the following words helpful to you. "Thi…s term may be used to advertise the sale of an established business, including all the equipment necessary to run it, or by a business-to-business supplier providing complete packages for business start-up. An example would be the creation of a "turnkey hospital" which would be building a complete medical center with installed high-tech medical equipment."----- From Wikipedia
Turn key is few more steps forward after the D & B i.e. furnishings, property insurence, etc. then then owner just want to come and "turn the key"