Buddhist monk Lama Jopa Rinposhe and other international dignitaries are likely to take part in the ceremony, officials told IANS.
The Maitreya project will be spread across 268 acres and will have a grand and modern educational institution for primary and higher education. It will also include a free medical facility unit, meditation pavilion, fountains, water bodies, parks, and a guest house.
Officials said the architecture and other works in the project will remain unblemished for the next 1,000 years. A basic capital of Rs.400 crore was being invested in the project.
This project was initially declared by the Uttar Pradesh government after a statue of Lord Buddha situated in Bamyan, Afghanistan was brought down by the Taliban.
In May 2003, the state government and the Maitreya project Trust had signed an Memorandum of understanding (MoU), which stated that the Trust would bear the entire cost of the project, while the state government will provide free land.
The Samajwadi Party (SP) government in the state has already cleared an international airport at Kushinagar to promote tourism in the region and a pre-notification was issued Nov 8, 2013.