Quantum’s Executive Director, Matthew Schofield, Finance Director Rajesh Singh and Associate Director, Natalie Findlay recently attended the Engineering, Procurement & Construction (EPC) Contract & Risk Management Summit 2017, which took place in Mumbai, India.
Recent studies predict the EPC market in India to grow at a compound annual growth rate (CAGR) of 20.26% from 2014-2019. The “Make in India” initiative is one of the many initiatives which is driving enormous growth in the Indian EPC sector.
Quantum proudly sponsored the two-day event as the Gold Partner, which provided an opportunity for Quantum to understand how EPC, Contracts and Risk Management practices are managed on projects in India. The presentation included presentations on devising clear strategies for managing and negotiating EPC contracts, addressing the challenges of delivering a mega project, contract pricing strategies, role of the consulting engineer, legal issues and balancing risks arising with sub-contracts.
Matthew Schofield who presented ‘Risk Management in Construction’, at the summit, stated, “The Indian construction industry is an integral part of India’s economy. The construction sector employs over 31 million people and accounts for approximately 7% of GDP, and after agriculture is the largest employment sector in the country. The construction industry has been growing at over 10% per annum. The total market value of commercial and retail estate projects currently under construction in India is approximately US$ 44 billion.”
Natalie Findlay stated, “Quantum is strongly committed to participating in major events which provides an opportunity not only to network with key industry leaders, but also to listen and learn how India delivers its projects. It is important for Quantum to participate in sharing knowledge, promoting engagement with others and building strong relationships in different cultures and diverse communities.”
During the visit, the Quantum team held meetings with a number of the key construction contractors and clients to discuss areas of future mutual cooperation.
Rajesh Singh noted, “I am very proud to sponsor this prestigious event in my home city and pleased that Quantum can share their knowledge and experience with the Indian construction industry.”
Quantum is acknowledged as one of the leading management consultancies dedicated to serving the interests of the international construction and engineering industries. In addition to regular industry presentations, Quantum is also actively involved in the presentation of training courses and mentoring programmes.
EPC Contract & Risk Management Summit is aimed at creating a platform for EPC Contracts and Risk Management professionals to address the latest challenges and highlight emerging trends as well as explore probable solutions available to further enhance the EPC sector in India.