During a press conference, Mutko said the estimated cost of the football event was 19.2 billion dollars, almost twice as mush as the initial projection.

Much of the money would be spent in transportation and infrastructure constructions in the 11 host cities, as well as upgrading and building of all 12 stadiums for the games, Mutko told local media, adding "these are not the final numbers." ( The International Federation of Football Associations (FIFA) and Russia Saturday announced 11 Russian cities to host the 2018 World Cup, which include Kaliningrad, St. Petersburg, Moscow, Kazan, Nizhny Novgorod, Saransk, Samara, Yekaterinburg, Rostov-on-Don, Volgograd and Sochi.

Russia pledged to hold "a high quality championships" with full-scale preparation works, Mutko said.

The country would spend the budget in building some 1,070 facilities needed for the games, as well as hotels, airports, hospitals, roads and other infrastructure and accommodation projects, according to the official.

Russia was awarded the right to host the 2018 World Cup in December, 2010.