New Delhi, Jun 14 (PTI) The Cabinet Committee on Economic Affairs (CCEA) on Tuesday approved the proposal for development of phase-1 of greenfield airport in Dholera in Gujarat within 48 months at an estimated cost of Rs 1,305 crore.

Prime Minister Narendra Modi is the chairman of the CCEA.

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The Dholera airport will get passenger and cargo traffic from Dholera Special Investment Region (DSIR) and is expected to become a major cargo hub to serve the industrial region, the Centre said in a press release.

This airport will also cater to the nearby region and serve as a second airport to Ahmedabad, it said.

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"The project is being implemented by Dholera International Airport Company Limited (DIACL), which is a joint venture company comprising Airports Authority of India (AAI), Government of Gujarat (GoG) and National Industrial Corridor Development and Implementation Trust (NICDIT) holding equity in the ratio of 51:33:16," it noted.

The greenfield airport is situated at an aerial distance of 80 km from Ahmedabad airport, it said.

"The airport is planned for operationalisation from the year 2025-26 and initial passenger traffic is estimated to be 3 lakh passengers per annum, expected to grow to 23 lakh over a period of 20 years," it mentioned.

The annual cargo traffic is also estimated from the year 2025-26 at 20,000 tonne, which would increase to 2,73,000 tonne over a period of 20 years, it noted.

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