Chandigarh/New Delhi, Sep 17 - A joint venture company, Chandigarh International Airport Private Limited, has been formed between the Airports Authority of India (AAI) and governments of Punjab and Haryana for the execution of a multi-million project for an international airport at Chandigarh.

The JV agreement was signed between the three parties in New Delhi Thursday. AAI chairman V.P. Agarwal was present along with officials from both states.

The airport project, to be developed over an area of over 300 acres of land at village Jheorheri in Punjab, adjoining state capital Chandigarh, will actually be an extension of the existing defence airport at Chandigarh. The Chandigarh international airport will have an international terminal in Mohali town, near Chandigarh.