Indonesia's sovereign wealth fund, Danantara, is set to sign an $8 billion contract with U.S. engineering firm KBR. The deal involves the construction of 17 modular refineries and is part of a broader trade agreement between Indonesia and the United States. This agreement has already reduced U.S. tariffs from 32% to 19%.
Indonesia's Economic Minister, Airlangga Hartarto, played a key role in negotiating the trade deal. He revealed the refinery plans during a closed-door briefing with Indonesian business leaders. While some details of the trade agreement, such as increased purchases of U.S. energy, agricultural products, and commercial aircraft, have been disclosed, this refinery contract had not been previously reported.
