According to Vista Projects
, an engineering company is a company specializing in the provision of engineering services. Such companies are able to provide services simultaneously in several areas and involve various equipment suppliers as well as various contracting firms.
The world's largest engineering companies, such as BATEMAN Project Holdings Ltd., Hatch Group, The Kvaerner Group, SNC-Lavalin, Bechtel Corporation, and others, have a holding structure managed by the parent company. Subdivisions of such companies are located in many countries of the world. They are endowed with a wide range of powers, they can independently carry out projects, organize joint ventures, etc.
The engineering companies carry out simultaneously a large number (some more than 1000) projects in different parts of the world, and the range of tasks they solve is very large including:
● feasibility study of the project;
● planning of financial flows, provision of financing;
● full management of the project or its parts;
● design, modeling;
● work with suppliers and contractors;
● provision of commissioning works;
● provision of transportation;
● audit, licensing, etc.
It should be remembered that engineering companies are not directly involved in construction, installation of equipment, etc. They create projects, provide their financing, negotiate with suppliers and hire a contractor, which, in turn, directly carries out the construction, installation of equipment, and other work.
The engineering companies carry out projects in many areas, particularly:
● in the petrochemical industry;
● in the metallurgical industry;
● in mechanical engineering and shipbuilding;
● in the field of telecommunications;
● in energy;
● carry out projects for the construction of roads, bridges, buildings and structures, and much more.
The engineering companies carry out projects both independently and in partnership with other companies. Projects can be implemented on a turnkey basis, or the company can only carry out some part of the project.
At the same time, all work is carried out from the feasibility study to commissioning. The engineering company itself manages the project, negotiates with suppliers and contractors, and carries out other necessary work. The number of personnel in large engineering companies can reach several tens of thousands of people, and in smaller ones - about several hundred.