Petrovietnam plans $1.7 bln power plant in Laos

HANOI, Oct 17 (Reuters) - State oil group Petrovietnam has signed an agreement with Laos to invest $1.7 billion in a hydro power plant in Luang Prabang, company officials said on Wednesday.

The 1,410-megawatt (MW) power plant will be under build-operate-transfer investment terms, they said, but declined to provide a timeline for the construction of the project.

A host of Vietnamese companies have sought to build hydro power plants in the neighbouring country to export electricity to meet soaring demand in Vietnam.