Western Goldfields Limited, an Abuja-based company, has finalised plans to invest N88 billion (US$6 billion) to generate 7,500 megawatts of power from coal, The Guardian reports.

Western Goldfields is working with Energy and Metals Industries Limited and the two firms have established a group called Western Goldfields Group of Companies. A team of Russian and Ukrainian companies is also partnering the Nigerian outfit on the project.

According to officials from the company, it would generate power predominantly from coal to put Nigeria's vast coal reserves to good use.

The company chairman, Philip Pereira said that three coal plants will be built in total, situated in the states of Kogi, Benue and Enugu. Each plant is expected to generate 2,500 megawatts.

Pereira explained that the first 2,500 megawatts of electricity would become available in four years' time and after that an extra 500 megawatts every four months.