World Cup 2018 will cost Russia around $19 billion, which means the budget has nearly doubled in comparison with the figures originally announced by the organizers.
"We have roughly estimated of the amount of investment needed to complete the project,” Vitaly Mutko, Sports Minister and head of the Russia 2018 Organizing Committee, is cited as saying by ITAR-TASS. “Of course, we understand that this figure isn’t final. We’ll be able to talk more precisely after all the estimates and revisions are done. But, according to our analysis, we need to implement 1070 facilities and actions.”
“The experts estimate the cost at 600 billion roubles (around $19 billion),” he added.
The mister stressed that only half of the sum will come from the state budget, with the rest from private investors.
"We have to understand that 40 per cent of the funds will be used to build sporting facilities – stadiums, training fields and bases for the teams,” he said. “While the remaining money will be spent on infrastructure – airports, hotels, transport logistics, security, medical and communications support.”
According to Mutko, five stadiums for the event are already under construction, with projects for four other arenas to be completed this year.
FIFA President, Sepp Blatter, who visited Russia at the weekend to name the World Cup host cities, said the country is a year ahead of schedule in its preparations.
Moscow, Saint Petersburg, Yekaterinburg, Sochi, Kazan, Nizhny Novgorod, Samara, Rostov-on-Don, Kaliningrad, Volgograd and Saransk will hold the Mundial matches in 2018.