turnkey project


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Turnkey Business

A new company with a business model that has already been set. Most franchises operate in this way. For example, if one wishes to open a McDonald's franchise, everything from the products to the uniforms has already been determined. One merely needs to put up the appropriate capital and start the business.

turnkey project

a one-off major construction project such as the building of a dam, power station etc. in another country where usually a contracted foreign firm (operating either alone or as the leader of a consortium of firms) is responsible for the design and construction of the facility. See BUILD, OPERATE, TRANSFER PROJECT.

turnkey project

Construction and furnishing of an improvement to the customized requirements and specifications of a buyer to the degree that the new owner need only turn the key in the lock and start business.The concept may include hiring and training all necessary staff positions,letting contracts for routine maintenance needs, and/or leasing a property up to stabilized occupancy. Contrast with built to suit.

References in periodicals archive ?
Mubasher also noted that the turnkey projects were the main catalyst for Elsewedy in 2016, especially as it will implement three power plants in Angola for EGP 484.
ECI is proud to be selected by ICE to deliver a world-class network for Costa Rica," said Israel Rozen, Vice President of Turnkey Projects at ECI Telecom.
The official added that Elsewedy has completed some phases of Ataqa and Mahmoudya power plants, which led to a decline in turnkey projects in Q2 of 2016, registering EGP 20.
Turnkey production facilities are referred to as project business or turnkey projects in the extrusion industry.
The company is said to have vast experience in turnkey projects throughout the established European countries and the expanding markets of the far eastern producers, as well as the newly developing regions of China and the Pacific rim, according to the literature.
BTEC is currently involved in a number of packaging and turnkey projects, including development of a 160 megawatt gas-fired power generation plant in Peru for BPZ Energy, Inc.
Mr Pu continued, "In addition, the Company currently has a pipeline of more than ten BOT, transfer-operate-transfer ("TOT") and turnkey projects and has entered into two arrangements to acquire existing BOT projects.