New Delhi/Lucknow, May 15: The foundation stone laying ceremony of the Jewar International Airport will be held before Diwali 2018 and the facility is likely to cost about Rs 19,000 crore, said Uttar Pradesh Civil Aviation Department on Monday."Prime Minister Narendra Modi and the Uttar Pradesh Chief Minister Yogi Adityanath will be present on the occasion," the department said in a statement on Monday. According to the statement, the Technical Economic Feasibility Report (TEFR) of Jewar Airport claims that the facility will be ready in 36 months from the foundation stone laying ceremony. The report has pegged Rs 19,000 crore as the cost which would be incurred towards land acquisition and construction works. "When this airport will start operating in 2022-23, its initial capacity would be of 60 lakh passengers, and with year-on-year increase, its annual passenger capacity is expected to reach up to 10 crore by the year 2050," estimated the TEFR.Besides, the authority is also planning to float soon the scheme for development of hotel, motel, laser plaza, shopping centre and convention centre.The announcement comes days after the Central government on May 8 accorded in-principle approval to the Uttar Pradesh government for setting up the second international airport in the National Capital Region (NCR) in Jewar of Greater Noida.