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Turnkey Construction Contract
(redirected from Turnkey Construction Contracts)

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Turnkey construction contract
A type of construction contract under which the construction firm is obligated to complete a project according to prespecified criteria for a price that is fixed at the time the contract is signed.

Turnkey Construction Contract
A construction contract in which the price is fixed at the time the contract is signed. As a result, the construction company is held responsible for exceeding the budget. Turnkey construction contracts reduce the risk to the buyer of the construction services and provide an incentive for the company to stay within budget.


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Based on remaining amounts due under turnkey construction contracts and an estimate of costs to complete those aspects of construction being performed by the Company, a further $12 to $16 million is expected to be expended to complete the facilities, exclusive of corporate overhead and financing charges.
Based on remaining amounts due under turnkey construction contracts and an estimate of costs to complete those aspects of construction being performed by the Company, a further $56 million to $66 million should be expended to complete the facilities, exclusive of corporate overhead and financing charges.
The risk inherent in CE's other international investments, power projects in Indonesia and the Philippines, has been mitigated by dollar denominated contracts, partnering with local partnerships, turnkey construction contracts, government supported offtakers and multilateral insurance.
 
 
 
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