A project is a scheme for setting up a manufacturing
or infrastructure facility or expanding capacity of an existing facility or modernizing
an old one.
The promoter - ultimate owner of the project - drafts
a scheme for setting up a manufacturing facility for certain product or infrastructure
project such as airport, seaport or hotel, hospital.
The promoter appoints a technical consultant for engineering
services such as technology or product knowhow, designing process, short listing
vendors/contractors, site supervision, etc. Based on recommendations of the consultant,
contract for construction of the plant is awarded to a contractor.
These contractors procure equipment from the manufacturers
approved by the consultant and construct the facility at site.