Mind of Project

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•  (Port City) 
•    港町 
•  Thành phố cảng
•   พอร์ตซิตี้ 

The modernization of Southeast Asia has created major tourist and industrial destinations in the area. Vietnam, as with Thailand, has caught onto this fact and has become a completely different country from what the world has known decades ago.

Its prime location and shape in the ASEAN region makes it an investment hub for financial and construction developers. However, its long shape has also proven to be a disadvantage for some of the historically significant areas of the country. The province of Hue (Thua Thien – Hue) had its share of being a capital city as well as the home to the Nguyen dynasty. Today, however, much of the investment and industrial spotlights have been put on Hanoi or Ho Chi Minh, leaving the once bustling historical capital a long road to catch up.

PSL has signed with the Thua Thien Hue Provincial government of Vietnam to invest and develop the region.

“Chan May Port is an important gateway for international tourists arriving in Thua Thien Hue,” Department Director Phan Tien Dung said. “Royal Caribbean has committed to bringing 25,000 to 30,000 tourists to Hue in 2015.”

This year Thua Thien-Hue is striving to welcome a total of around 70,000 visitors arriving by ship.

Chan May Port is one of 46 ports in Southeast Asia selected by the Asia Boating Association as stopovers for cruise ships. It also lies along the main sea route connecting Singapore, the Philippines and Hong Kong. Its dock is currently 420 meters in length and 12.5 meters in depth, making it able to berth 30,000 DWT ships and large international travel ships carrying around 3,000 passengers.

• (Commercial Building) 
•          商業ビル
•  Tòa nhà thương mại 
•   ตึกแถว 

ING Life Insurance, fisheries cooperatives and a college fund in South Korea will put a total of $80 million into a fund run by USAA Real Estate Company that acquires and leases A-rated buildings to government agencies, reflecting a growing interest in U.S. office buildings.

According to investment banking sources on August 16, ING Life and National Federation of Fisheries Cooperatives will commit $40 million and $30 million each in the open-end fund designed to employ the strategy of “government buildings,” along with an unidentified college fund that will put in another $10 million.

With the investment from the three institutions, a total of five South Korean institutional investors will have committed 140 billion won ($128 million) on aggregate in the fund since 2013. Two other investors in the fund are not identified. Stable income and low volatility, the characteristics of the U.S. real estate fund, has lured South Korean investors into the investment vehicle. It is aiming for a 6.5% annual return and being marketed by South Korea’s Hyundai Securities.

Earlier this year, Korea Investment Management, a fund management company, bought a historic building in Philadelphia which houses the IRS’ local offices. A similar transaction sealed early this year involved Mirae Asset Global Investments that purchased an office building in Germany that is used as the Cologne City Hall building for 490 billion won ($450 million). 

• (Government Project) 
•  政府プロジェクト 
•  Dự án của Chính phủ 
•  โครงการภาครัฐ 

Chủ tịch UBND tỉnh Nguyễn Văn Cao (bên phải) tiếp Chủ tịch Tập đoàn PSL Thomas Lee

Sáng 01/12/2015, tại Văn phòng UBND tỉnh, Phó Bí thư Tỉnh ủy, Chủ tịch UBND tỉnh Nguyễn Văn Cao đã chủ trì tiếp và làm việc với đoàn công tác của Tập đoàn PSL (Hoa Kỳ) do ông Thomas Lee – Chủ tịch tập đoàn PSL dẫn đầu nhân chuyến nghiên cứu, khảo sát thực địa của Tập đoàn tại tỉnh Thừa Thiên Huế.
Tại buổi tiếp, Chủ tịch Tập đoàn PSL Thomas Lee thông báo sơ bộ kết quả một số công việc mà nhóm chuyên gia của Tập đoàn đang triển khai và các dự án sẽ nghiên cứu triển khai tại Thừa Thiên Huế trong thời gian đến; đồng thời cho biết kế hoạch kêu gọi các công ty, tập đoàn đầu tư lớn của Hoa Kỳ, Hàn Quốc để cùng với PSL đầu tư vào Thừa Thiên Huế.

Chủ tịch UBND tỉnh Nguyễn Văn Cao bày tỏ vui mừng tiếp đón ông Chủ tịch Tập đoàn và đoàn công tác đến nghiên cứu, khảo sát thực địa tại Thừa Thiên Huế; đồng thời đánh giá cao sự tiến triển các công việc theo nội dung biên bản thỏa thuận được ký kết giữa hai bên. Điều này chứng tỏ sự quyết tâm của Tập đoàn PSL trong nghiên cứu đầu tư vào tỉnh Thừa Thiên Huế.
Chủ tịch UBND tỉnh Nguyễn Văn Cao khẳng định, tỉnh Thừa Thiên Huế sẽ tạo mọi điều kiện thuận lợi nhất, phối hợp tốt nhất để triển khai các thỏa thuận hợp tác mà hai bên đã ký kết. Hy vọng trong chuyến nghiên cứu lần này của Tập đoàn sẽ mang lại kết quả tốt, sớm hoàn tất nghiên cứu tiền khả thi các dự án để các thỏa thuận hợp tác sớm được triển khai trên thực tế.

• (Development Suez Economic Zone)
•  開発スエズ経済圏  
•  Khu kinh tế phát triển Suez
•  การพัฒนาเขตเศรษฐกิจสุเอซ  

Combining a strategic location with an investor-friendly environment, Egypt is ensuring its Suez Canal Economic Zone is primed for foreign investment.

Spread along the maritime route that connects the Red and the Mediterranean seas, Egypt’s 460-square-kilometre Suez Canal Economic Zone (SCZone) lies at the crossroads between Africa, the Middle East and Europe. Established as part of Egypt’s sustainable development strategy, Vision 2030, SCZone aims to bring in foreign investment, especially to the country’s fast-growing manufacturing industry. 

With 8% of the world’s seaborne trade passing through the Suez Canal each year, SCZone is well placed logistically. Ongoing port expansion will increase its capacity, enabling it to take better advantage of the 18,000 ships that use the canal annually. SCZone also has links to the Trans-African Highway network, which connects Cairo to Dakar, Cape Town, N’Djamena, Djibouti, Lagos and Mombasa. 

“The economic zone is well suited to be the gateway to Africa. Egypt has the connectivity, the availability of manpower, and the availability of resources,” says Yehia Zaki, chairman of SCZone. The zone has four industrial areas and six seaports. 

In terms of global market access, investors can also benefit from Egypt’s many free-trade agreements, such as the African Continental Free Trade Area, signed in 2018.

Although SCZone is in its early days, Egypt’s economic climate is positive. In 2019, the country achieved its highest GDP growth rate in a decade and welcomed an unprecedented number of greenfield foreign investment projects, according to FDI Markets data. 

Foreign investment in manufacturing, the country’s leading market for greenfield FDI, has been particularly strong since 2016, hitting record highs in 2018 and 2019, thanks in part to several companies setting up shop in SCZone.

Egypt’s Suez Canal Authority (SCA) signed a memorandum of understanding (MoU) with KT Corporation, South Korea’s largest telecommunications service provider, and Giga Global for Telecom and Technology (GGTT) to install new technology system that will increase Internet speed in the area to 1 GBps. The two sides provided no details on the value nor the contract’s timeline.

KT’s chairperson and CEO Hwang Chang-Gyu and Mohab Mameesh, chairman of SCA, attended the signing ceremony held on Oct, 2018.

Chang-Gyu said that the partnership will not only improve Egypt’s information and communications technology (ICT) services, but also help KT expand its global presence. He added that the MoU is part of a large project to promote the ICT infrastructure of the Suez Canal.

•  (High-Way Project) 
• ハイウェイプロジェクト
•  Dự án Đường cao tốc 
•  โครงการทางหลวง   

Myanmar’s Ministry of Construction announced last week that it had received 12 bids for a public–private partnership (PPP) project to build a $1.5bn elevated ring road around the country’s commercial capital of Yangon.

When built, the ring road will connect Yangon Port in the downtown area with Yangon International Airport, Mingalardon Industrial Park and the Yangon-Mandalay Expressway.

As reported by Frontier Mynamar, the following contractors and consortiums are in the running for the work:

• Vinci Highways of France;
• Team Korea, which consists of GS Engineering & Construction, Posco, Lotte, Daewoo, Daelim, Korea Expressway Corporation, Korea Overseas Infrastructure & Urban Development Corporation;
• China Communications Construction Company;
• A Japanese team consisting of JFE Engineering and the Marubeni Corporation;
• The BSSIC Consortium: a Thai, Japanese and Myanmarese team led by Bangkok Expressway and Metro, Karnchang Public Company Limited, Shwe Taung Infrastructure Investment Company, Shwe Taung Expressways Company, Sumitomo Corporation and IHI Corporation;
• The CRIG-CDL Consortium, consisting China Railway International Group and Capital Development Limited, also of China;
• Shanghai Pengxin Consortium, made up of Shanghai Pengxing Group, Transland, Myanmar Licenced Contractors, and the Shenzhen Home Investment Group;
• Metro Pacific Tollways Corporation of the Philippines;
• China Gezhouba Group and Great Genesis Gems of China;
• The Italian-Thai Development Public Company and China Shandong International Economic & Technical Cooperation Group;
• Denso of Myanmar and the China State Construction Engineering Corporation;
• The Power Construction Corporation of China.

The Ministry of Construction said it would evaluate the submissions and would announce the list of the companies that qualify for the next round of consideration by the end of November.

Vikram Kumar, country manager for Myanmar at the World Bank’s International Finance Corporation, which is the ministry’s lead adviser for the scheme, said it could be split into multiple sections to speed up construction.

• (Electric Grid)  
•    電力網
•   Lưới điện 
•   กริดไฟฟ้า 

Laos, Malaysia and Thailand Agree to Expand a Trilateral Power Deal.

Meeting of energy ministers of the Association of Southeast Asian Nations, in Bangkok, Sept. 5, 2019.

Laos, Malaysia and Thailand have agreed to expand a trilateral power deal, under which Lao electricity will be sold to the Malaysians via the Thai grid, Thailand’s minister of energy said.

“Thailand, Laos and Malaysia achieved a new purchase deal, raising the capacity from 100 to 300 megawatts,” Sontirat Sontijirawong, Thailand’s minister of energy, told a news conference during during a four-day meeting of energy ministers of the Association of Southeast Asian Nations (ASEAN) that wrapped up in Bangkok on Thursday.

Since KPX (Korea Power Exchange) established in 2001 as Asia’s first institution for power market and system operation, it has actively conducted international cooperation activities with various power exchanges with advanced countries and world leading electric businesses around the world.

As a result, KPX has concluded cooperative agreements with 11 institutions from 6 countries including PJM in US.
Now, KPX stands as the number one institution leading countries through passing down its accumulated experiences and knowledge to less developed organizations among developing countries like Vietnam, Laos. In the future, KPX, as a front-running entity in the Asian electricity industry, will supply the best services and become one of the global electricity institutions to lead the future energy society. 

KPX（韓国電力取引所）は、2001年にアジア初の電力市場およびシステム運用機関として設立されて以来、先進国および世界をリードする電力事業者とのさまざまな電力取引所との国際協力活動を積極的に行ってきました。 

その結果、KPXは米国のPJMを含む6カ国の11機関と協力協定を締結しました。 現在、KPXは、蓄積された経験と知識をベトナムやラオスなどの発展途上国の発展途上国に受け継ぐことで、国をリードするナンバーワンの機関としての地位を確立しています。

将来的には、アジアの電力業界のフロントランニング企業として、KPXは最高のサービスを提供し、将来のエネルギー社会をリードする世界的な電力機関の1つになります。 

• (Government Project)  
•  政府プロジェクト 
•  Dự án của Chính phủ 
•  โครงการภาครัฐ 

THUA THIEN – HUE (VNS) — Authorities in central Thua Thien-Hue Province have decided to invest US$3.8 billion into the development of traffic infrastructure.

Under a plan of the province People’s Committee, the investment will be used for the construction and upgrade work of road, rail, air, and waterway infrastructure. The work is expected to increase transport capacity to 24 million people and 15 million tonnes of cargo a year.

Disbursement of the total investment will be made in two phases, with VND36 trillion ($1.7 billion) for work conducted from now to 2020 and the remaining will be used for the period from 2020 to 2030. Local authorities will reserve 26 per cent of total land designated for construction work or 40,000ha of land.

The section of national highway running through the locality and its branches will be upgraded according to the highest standard.

The province also plans to expand potentially busy roads to meet transport demands and develop a road system that links Hue City with airports, seaports, tourism complexes and industrial parks located in suburban areas.

The plan also focuses on the development of two waterway routes, one connecting the two lagoons of Tam Giang and Cau Hai, and another river route running from Thuan An Estuary to Tuan confluence.

The waterway development is expected to serve both cargo transport and tourism travel.

The Chan May deep seaport, which is located between the province and Da Nang City, will be upgraded to receive 50,000 tonne cargo ships and 10,000GT passenger vessels.

The port will serve as a main gateway to the ocean for the East West Corridor that runs through Thailand, Lao and Viet Nam.

Local authorities will eventually build new rail lines for high-speed trains, easing rail traffic.

Phu Bai Airport is being developed into an international facility receiving 10 million passengers a year from Southeast Asian countries. At peak hours, the airport is expected to be bale to handle 4,000 passengers at in an hour.

By August this year, the cheap carrier Jetstar Pacific Airlines will add new routes between Hue and Da Lat and Hue and Nha Trang. — VNS

• (Condominium Town)  
•  マンションタウン 
•   Chung cư Town 
•  คอนโดมิเนียมทาวน์ 

Area plans, such as the Downtown Recreation Project, the Hangang Renaissance and Northeastern Area Renaissance, Yongsan International Business Area, Magok Area, and Sangam DMC Development Project are developed. Seoul continues to excel as an attractive global city, which at the same time retains its identity as a historical and cultural city.

• Feb. 2013 : Green Building Creation Support Act, raising 

                            awareness of ecological building   

                            techniques.

• Dec. 2013 : Special Act on Promotion and Assistance in Urban 

                            Renewal, promoting healthy, sustainable 

                            management of urban residential, economic, 

                            social, and cultural environments.

• June 2015 : Act on Promotion of Building Assets, recognizing 

                            buildings such as Hanok, as public goods.

• Total area of 17,810,000㎡ in 40 districts

• Constructed 197,526 housing units

                            : for sale 89,207 units / for rent 108,824 units

A housing site development project is a comprehensive land development scheme implemented by the public sector through active participation in every stage of the process, including land acquisition, development, supply, and management. In December 1980, the Housing Site Development Promotion Act was established to ensure that sufficient land was available for the construction of apartment complexes. By the end of 2006, an estimated total land area of 639.674 million m² was designated for housing development districts nationwide, with 37.106 million m² in 41 districts in Seoul. Most of the housing site development projects in downtown Seoul were implemented by public institutions. Such projects can only be initiated after purchasing the sites. 

•   (Solar Farm) 
•   ソーラーファーム 
•  Trại năng lượng mặt trời
•  แคน ฟาร์ม           

PHNOM PENH—Cambodia has a poor electrical grid, but plenty of sun—making it a perfect candidate for more solar power. But the sector remains small, particularly for rural use and farms, where it would be very useful.

That would change, if the government were more supportive and if finance institutions were willing to make loans to help installation, experts said at a recent forum.

The Enrich Forum on Sustainable Development, held last week in Phnom Penh, is an annual conference that puts together numerous experts around a given topic. This year, the forum explored clean energy and how that might be harnessed for sustainable development. The forum looked at ways to raise awareness and share information on clean energy, to explore clean energy investment, and to connect policymakers with project developers and investors.

At the forum, Jim Gramberg, CEO of Solar Partners Asia, said installation remains prohibitively expensive for many, while lending institutions remain reluctant to make loans that could help.

Srey Chanthy, an agricultural economist, said a solar-powered agricultural sector would require action from the government, microfinance institutions, solar companies and farmers. But high investment and high interest for lending remain a problem for farmers, even if solar power would help them in the long run, by, for example, powering pumps to drain fields.

There are other limiting factors, too, said Sao Sopheap, a spokesman for the Ministry of Environment. That includes technical know-how. “The awareness of solar technology is low, and the price is still too high,” he said.

Meanwhile, Cambodia remains a country with a high degree of solar radiation, making it a good place for solar, according to the Asian Development Bank.

http://www.voacambodia.com/content/solar-power-stymied-by-lack-of-support-experts-say/2974088.html

•   (Intercontinental Highway)
•  インターコンチネンタルハイウェイ
•   Đường cao tốc liên lục địa  
•   ทางหลวงระหว่างทวีป 

A new section of the planned Asian highway linking India, Myanmar, and Thailand has become operational. The 25.6 kilometer roadway will reduce travel time between Thinggan Nyenaung and Kawkareik from three hours to 45 minutes.

The newly opened section of the highway is located in the East-West economic corridor of the Greater Mekong Subregion (a development project implemented in 1992 by the World Development Bank and consisting of Cambodia, Laos, Myanmar, Thailand, Vietnam, and Yunnan Province, China). It is hoped that the road will help to further grow trade between Myanmar and Thailand and build stronger relationships between the people in the region.

Construction on the Asian highway began in 2012 and, once completed, the road system will stretch 3,200 kilometers from Moreh in India to Thailand’s Maesot via Myanmar’s Tamu, Mandalay, and Myawaddy. The new road is part of the Asian Highway Project, which is a cooperative project between Asian and European countries, as well as the United Nations Economic and Social Commission for Asia and the Pacific, to work together on improving the region’s highway systems.

Present at the opening ceremony were Myanmar’s Vice President U Nyan Tun, Thai Deputy Prime Minister Somkid Jatusripitak, and Chairman of the Kayin National Union General Saw Mutu Sae Po.

In addition to the opening of the new highway section, a cornerstone laying ceremony was also held for the building of the Myanmar-Thailand Friendship Bridge No.2, which will link Maesot, Thailand and Myawdaddy, Myanmar.
The highway is but one of many large-scale infrastructure projects ongoing, or in the planning stages, in the region. As foreign investment continues to pour in, infrastructure across the area is improving by leaps and bounds. In addition to improving the road systems, countries are also moving quickly to improve their railway systems, a key form of transportation in Asia but currently suffering from a lack of modern technology and new routes.

 http://www.aseanbriefing.com/news/2015/09/04/asian-highway-to-link-india-myanmar-and-thailand.html#sthash.bGUKFtnC.dpuf

• (Thai Economy Needs Investment) 
•    タイ経済は投資が必要 
•  Nền kinh tế Thái Lan cần đầu tư 
•  เศรษฐกิจไทยต้องการลงทุน 

Thailand and the United States exchanged signed copies last week of their new Framework to Strengthen Infrastructure Finance and Market Building Cooperation, an agreement that should better facilitate private-sector investment in the Kingdom’s building boom.

Minister Arkom Termpittayapaisith, Ministerof Finance, and Ambassador Michael George DeSombre, U.S. Ambassador to Thailand, attended the signing ceremony in the Thai capital while both sides convened their inaugural Energy Policy Dialogue in a virtual format with government representatives in Bangkok and Washington, D.C. taking part.

Thailand is in the midst of a $100-billion infrastructure upgrade designed to advance the Kingdom’s competitiveness for decades to come. The Thai government has been successfully using a public-private-partnership model to fund the construction or expansion of roads, rail lines, ports and airports. Thai officials have said that more investment from the United States would be greatly appreciated.

“This framework supports economic growth and our shared goals to meet infrastructure needs through market-oriented, private sector investment in Thailand and across Southeast Asia,” said U.S. Treasury Assistant Secretary, Mitchell Silk, who signed the agreement on behalf of the American government.

The agreement addresses regulatory, market, and legal barriers to private sector investment by focusing on developing financial instruments, project finance, the local debt market, and capital markets.

Representatives of both governments also met virtually for the energy policy dialogue. The discussions centered on strengthening cooperation on an issue that affects their economies, development, and above all, the environment.

“The United States reaffirmed its commitment to support Thailand in realizing its vision of becoming a regional energy hub,” Ambassador DeSombre said about the discussions.

“This will create commercial opportunities for both American and Thai companies and improve the business operating environment in the region through broader access to more reliable, less expensive sources of energy,” Ambassador DeSombre added.

Photo courtesy of             https://www.thaigov.go.th/news/contents/details/36251

•   (Airport Link) 
•   エアポートリンク 
•   Liên kết sân bay 
•   แอร์พอร์ตลิงค์ 

Steps towards a major overhaul of the Airport Rail Link will start to unroll within three or four months, according to the line operator.

Construction bids for an Airport Rail Link extension between Don Mueang, Bang Sue and Phaya Thai are expected to be called by September or October, said Pakorn Tangjetsakao, acting president of the State Railway of Thailand (SRT) Electric Train Co.

The design plan and environmental impact assessment for the 21.4km extension, likely to cost 31 billion baht, are complete.

Thailand’s government hopes a new Bangkok railway station can solve the city’s traffic woes. 

รัฐบาลไทยหวังว่าสถานีรถไฟในกรุงเทพฯ แห่งใหม่จะช่วยแก้ปัญหาการจราจรในเมืองได้ 

Wrapped in four storeys of reflective glass and covering 298,200 square meters —more than 40 soccer pitches—Bangkok’s Bang Sue Grand Central Station will be more than just a transportation hub. At least, that’s the plan. Thailand’s government is hoping the capital’s new railway station, which opens fully to the public in November, can also solve the traffic woes of one of the world’s most congested cities.

“We want to make the rail system the main mode of transport in Thailand, linking the country with regional neighbors,” Transport Minister Saksayam Chidchob said during a media event showcasing the development.  The aim is to “lower logistics costs and lessen our dependency on private vehicles, which will fix our road congestion problem in a sustainable way.”

It’s an ambitious goal, even for a project as big as Bang Sue. 

Visible from an overhead expressway where cars commute to and from Bangkok’s downtown, the complex is touted as Southeast Asia’s largest transportation hub, and cost 93.95 billion baht ($3 billion) to build. 

•  (Wind Turbine Energy Plant) 
•  風力タービンエネルギープラント
•  Nhà máy năng lượng tuabin gió 
•  โรงผลิตพลังงานกังหันลม 

The construction site of the Storm wind farm in Pelt (Limburg) was officially opened on Monday.

The wind farm will produce enough electricity to provide some 8,000 households with a year’s electricity consumption.

Three wind turbines will be put in place, each with a rotor diameter of 145 metres and a tip height of 170 metres, making them the largest to be built in Flanders.

“Projects such as the wind farm in Pelt are crucial if we want to achieve our renewable energy targets in Flanders,” said Flemish Minister for Environment and Energy Zuhal Demir.

Use of the park is set to start in the summer of 2021, with the cables currently being laid and construction on the actual turbines scheduled for early 2021.

Offshore wind is at the heart of the nascent three-party Irish government’s goal to achieve a share of at least 70% renewable energy by 2030.

According to the draft programme released by coalition parties Fianna Fáil, Fine Gael and the Green Party, Ireland will bring about a “revolution in renewables” to achieve rapid decarbonisation and create jobs.

The document commits to publishing a plan to deliver 5GW of offshore wind capacity by 2030 — up from the current goal of 3.5GW by the same date — off Ireland’s eastern and southern coasts. 

A first offshore wind-specific auction is scheduled for 2021, while annual auctions for renewable energy capacity will start later this year. 

The plan will also set out a vision for harnessing the potential of floating offshore wind off the Atlantic coast, as well as promote best use of Ireland’s maritime infrastructure and provide a boost for innovative transmission and energy storage technologies. 

• (Gas Power Plant) 
•   ガス発電所 
•   Nhà máy điện khí 
•   โรงไฟฟ้าก๊าซ 

The technology group Wärtsilä is witnessing the growing importance of utilities as a customer segment, alongside independent power producers. “Utility-scale solar projects with a full Engineering, Procurement and Construction (EPC) are growing fast, and gas-fired power plants remains stable,” the Finnish manufacturer said. Geographically, it sees the highest demand growth the demand for EPC contractors in Africa and South-America.

Wärtsilä Energy Solutions has completed over 500 EPC projects worldwide. Whereas every single project is unique, there have been shifts and changes in the overall needs and expectations of Wärtsilä’s customers. Compliance with the regulations, concern for the environment and the well-being of local communities have all gained in importance.

“Soft values are becoming hard facts. Issues such as providing employment opportunities and training to local employees and supporting local development efforts will become even more significant in the future,” says Antti Kämi, Vice President of Engine Power Plants at Wärtsilä.

Another major trend affecting large and global OEMs (Original Equipment Manufacturer) acting as EPC contractors is rising protectionism. EPC contractors like Wärtsilä are increasing their local sourcing, and seeking local partners to work in many geographies. Political instabilities may impact project and delivery schedules. Likewise, shifts in long-term weather patterns can take the project participants by surprise.

All of these trends underline the understanding and capacity for risk mitigation, including the allocation of risks between project participants. “Definition of requirements and project scope, is a crucial factor in the EPC type of contracting arrangement. It would be wise to choose performance based requirements for the power plant solution, as installation-specific one-off applications add to the overall project risks,” says Mr. Kämi.