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 ?
Turnkey projects are popping up in multiple beauty categories; however, some segments naturally lend themselves to turnkey production.
Meanwhile, the source at the company said that wire and cable industry revenues grew at a lower rate than the turnkey projects, as the growth was limited to 12% during the period of comparison.
These higher-margin turnkey projects have led to a more highly leveraged balance sheet with tighter liquidity pressure compared with its peers.
In the automation sector, the company subsidiary closely cooperates with the experts from the Germany turnkey department, for example, as well as with Spanish and Portuguese automation partners to design and implement customized turnkey projects for their customers.
Elsewedy aims to expand in turnkey projects across the African Sahara markets, the official said, as the sector's contributions in the second quarter (Q2) increased by 1% to reach 23% at the end of H1 of 2016.
We understand the importance of turnkey projects and with the addition of three new vendors, we are supporting our system integrators and resellers with complete project material supply and support.
The $1.6 billion (Dh5.87 billion) Borouge 3 project is composed of two turnkey projects owned by Abu Dhabi Polymers Company Limited and is scheduled for completion by the first quarter of 2014.