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A new group of firms has emerged since the war in Europe specialising in the design, ‘engineering’, and construction of process plants for the oil and chemical industries. These contractors undertake both the design of the plant and the procurement of the ‘hardware’ components used in the installations. Consequently the orders which they gain in world markets have a considerable indirect effect on the exports of the engineering industry, as well as providing invisible income.
A Thu, study studied this question.