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FINANCIAL NEWS
Qatar to spend USD150b by 2017 on infrastructure projects
26 Oct 2011
(MENAFN) Qatar’s Minister of Economy and Finance, Yousef Hussein Kamal, said that by 2017, the Qatari government would spend around USD150 billion on infrastructure projects, reported Arabian Business.
Kamal added that the government allocated 40 percent of its budget between now and 2016 to infrastructure projects, that would include USD11 billion to build a new international airport, a USD5.5 billion to establish a deepwater seaport and a USD1 billion to construct a transport corridor in Doha.
He also said that the expansion in the sector came as a result of the 2022 World Cup that would be held in the country, adding that stadium construction for the games would cost around 4 billion.
It is worth noting that Qatar will construct 9 new stadiums for the World Cup and will renovate three, moreover, it will allocate USD20 billion to be spent on roads.
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