What is Turnkey Projects and Its Advantages

What is Turnkey Projects?

A Turnkey project is a collaboration between two companies on the supply, construction, and commissioning of a plant. It involves the building of a complete and ready-to-use facility by one Company.

An Industrial equipment manufacturer and construction company may undertake a Turnkey Operation for a Government Agency.

Advantages of Turnkey Projects

Turnkey Projects provide an excellent way to invest in technically technologically complex projects and earn great economic returns.

Turnkey Projects are advantageous in countries where a Long term investment might expose the firm to unrespectable Political or economical risks to the company.

Disadvantages of Turnkey Projects

Normally, a company entering into a Turnkey deal will not have a Long-Term interest in the foreign company.

If a company enters into a Turnkey project, it may create a competitor.

A Turnkey Projects that sells a Firm’s process technology is also selling competitive advantages to its potential and/or actual competitors.

SOURCE: https://corporateturnkeyprojectservices.wordpress.com/2022/07/09/what-is-turnkey-projects-and-its-advantages/

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