Qatar is set to spend up to USD 150 billion on infrastructure projects over the next 5 to 6 years as it starts preparing for the 2022 World Cup.

Mr Yousef Hussein Kamal, minister of economy and finance, also said that spending on the oil and gas sector would reach USD 40 billion in the same period.

The Qatari government has reportedly allocated a whopping 40% of its budget between now and 2016 to infrastructure projects, including USD 11 billion on a new international airport, USD 5.5 billion on a deepwater seaport and USD 1 billion for a transport corridor in the capital, Doha.

It will spend USD 20 billion on roads while stadium construction for the World Cup should cost just under USD 4 billion, with the first venue to be built by 2015.

Qatar, which last December won the rights to host the tournament in a surprise vote by FIFA, will build nine new stadiums for the event and renovate three. Last month, it was reported that Qatar could spend USD 220 billion in its build up to the 2022 World Cup.

According to German legal and financial adviser Dr Nicola Ritter, USD 48 billion will be spent to build air conditioned stadia, USD 77 billion will be spent on facilities for soccer fans and players from all over the world and USD 45 billion will be allocated for developing Lusail City.

Qatar has also allocated USD 50 billion to upgrade its transport infrastructure, including new rail and metro systems.

(Sourced from www.arabianbusiness.com)