Indonesia plans $8 billion refineries contract with U.S. firm amid tariffs deal, Reuters reports

Indonesian sovereign wealthiness money Danantara plans to motion an $8 cardinal engineering, procurement and construction contract with U.S. engineering firm KBR Inc to physique 17 modular refineries, according to two sources familiar with the substance and an authoritative economical ministry presumption seen by Reuters.

The contract is portion of past week's commercialized pact between Indonesia and the United States that led to a simplification successful the threatened U.S. proposed tariff complaint to 19% from 32%.

Airlangga Hartarto, Indonesia's economical affairs curate and the main negotiator of the deal, disclosed the modular refinery program during a closed-door briefing to Indonesian concern leaders connected Monday evening. Two sources confirmed the planned deal was mentioned successful a presumption that Reuters besides reviewed.

Danantara and KBR Inc, formerly known arsenic Kellogg Brown & Root, did not instantly respond to requests for comment.

While immoderate details of the trade deal between the United States and Indonesia have been made public, specified arsenic for accrued vigor cooperation, the proposed contract for refineries has not antecedently been reported.