AsianFin -- Indonesia’s sovereign wealth fund Danantara is set to sign an $8 billion engineering, procurement and construction deal with U.S.-based KBR Inc. to build 17 modular refineries, according to two people familiar with the matter and an official government presentation reviewed by Reuters.

The agreement is tied to a recent trade pact between Indonesia and the United States that saw Washington scale back a proposed tariff hike to 19% from 32%.

Economic Minister Airlangga Hartarto, who led the negotiations, revealed the refinery initiative during a closed-door meeting with Indonesian business leaders on Monday. The two sources said the project was also detailed in a presentation shown at the briefing.