Qatar is set to spend up to US$ 150 billion on infrastructure projects over the next 5-6 years as it starts preparing for the 2022 World Cup, reported Arabian Business. Yousef Hussein Kamal, Minister of Economy and Finance, also said spending on the oil and gas sector would reach US$ 40 billion in the same period.

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

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

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

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