Today we have come up with Insider Monkey’s hottest article about the largest EPC companies in the world. So what is EPC company? Actually, EPC companies make the top turnkey projects all over the world. These are the amazing companies that make the engineering wonders and construction projects to reality. Actually, they are involved in construction services on contract basis, procurement, engineering, contracts awarded for particular project work. For instance, EPC company can be involved in completion of projects for the Oil and Gas industry or plant projects for the Power sector.
Actually, the largest construction companies sometimes also operate in turnkey construction projects, but the format of EPC contracts separate the EPC companies from construction companies. The EPC market in the oil and gas sector is about to grow by 6.5% between 2020 and 2027. There are several giants among the main competitors, such as South Korean giant Samsung Engineering and UK’s Petrofac, and the competition has become really fierce among the mammoth companies.
And now, without a further ado, let’s check out what Insider Monkey has brought up with. As a short foretaste, we have picked up two companies from the entire list. Firstly, on the fourth spot, here’s Technip FMC. This company is London headquartered and has around 34,000 employees. It is involved in all round solutions and project life cycle services for the energy sector. The company’s latest project was the aftermarket and training facility in Dhahran, Saudi Arabia, in 2018. On the second spot, Hyundai Engineering & Construction stands with its amazing revenue of $15,596 million. The company has only 5,579 employees. Hyundai E&C was formed in 1999 by merger of Hyundai Construction and Hyundai Engineering. This South Korean company is involved in architecture, civil engineering, power, plant, offshore and nuclear power stations. In 2019, the company signed contracts worth $2.7 billion with Saudi Aramco. For more interesting information, please click the largest EPC companies in the world.