The airport is to be constructed - with an estimated cost of Rs 110 crore - by a consortium of Maytas Infra, a Hyderabad-based infrastructure development company in association with NCC Infrastructure Holdings and VIE India project development and Holding.
In the first phase of the project, the airport will provide facilities for ATR-72 type aircrafts with a runway length of 1,500 metres. The second phase will provide facilities for A-320 type aircrafts with a runway length of 3,100 metres.
A separate special purpose company has also been set up for the execution of the project where the consortium partners Maytas Infra, NCC and VIE will have a shareholding pattern of 37 per cent, 37 per cent and 26 per cent respectively.