Indonesia Plans US$ 8 Billion Refineries Contract with US Firm Amid Tariffs Deal

INVESTMENT - JAKARTA. Indonesian sovereign wealth fund Danantara plans to sign an $ 8 billion engineering, procurement and construction contract with U.S. engineering firm KBR Inc to build 17 modular refineries, according to two sources familiar with the matter and an official economic ministry presentation seen by Reuters.

The contract is part of last week's trade pact between Indonesia and the United States that led to a reduction in the threatened U.S. proposed tariff rate to 19% from 32%.