Russia will spend around $340 million on new stadiums across the country as it looks to win the right to host the 2018 World Cup, the country's football chief said on Tuesday.

"We have handed over our bid book for the 2018 World Cup to FIFA," Russian Football Union head Sergei Fursenko said on the Rossiya 24 TV channel.

"Sufficient funds have been allocated by the government for the reconstruction of existing bases, pitches, and infrastructure," he said. "Around 340 million until 2015 is expected to be spent on these needs."

He added that 13 new stadiums would be built for the tournament, and that even if Russia was unsuccessful in its bid, "we will build six stadiums in any case."

Russia is competing with England, Australia, the United States, Spain and Portugal and Belgium and the Netherlands to host the World Cup in 2018 or 2022. Japan, South Korea and Qatar are bidding just for the second tournament.

FIFA will appoint hosts for 2018 and 2022 World Cups on December 2. The 2018 tournament is expected to be given to a European bidder, meaning the 2022 event would be held on a different continent.

MOSCOW, May 18 (RIA Novosti)