Qatar set to spend $ 150 bn on infrastructure until 2017

Oct 25, 2011 12:00 AM

Qatar is set to spend up to $ 150 bn on infrastructure projects over the next 5-6 years as it starts preparing for the 2022 World Cup, a senior official said.
Yousef Hussein Kamal, Minister of Economy and Finance, also said spending on the oil and gas sector would reach $ 40 bn in the same period. His comments came in a speech delivered before the Qatar-Spain Business Forum.

The Qatari government has reportedly allocated a whopping 40 % of its budget between now and 2016 to infrastructure projects, including $ 11 bn on a new international airport, $ 5.5 bn on a deepwater seaport and $ 1 bn for a transport corridor in the capital, Doha. It will spend $ 20 bn on roads while stadium construction for the World Cup should cost just under $ 4 bn, 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.

In September, it was reported that Qatar could spend $ 220 bn in its build-up to the 2022 World Cup.
According to German legal and financial adviser Dr Nicola Ritter, $ 48 bn will be spent to build air-conditioned stadia, $ 77 bn will be spent on facilities for soccer fans and players from all over the world and $ 45 bn will be allocated for developing Lusail City. Qatar has also allocated $ 50 bn to upgrade its transport infrastructure, including new rail and metro systems.

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