Rome, June 15 (IANS): Italian club AS Roma unveiled proposals for a new state-of-the-art stadium on Monday as part of its ambition to "become one of the most successful football clubs in the world".

The stadium is scheduled to be completed and become operational at the start of the 2016-17 Serie A season. It will be a 52,500-seat stadium.

Roma chairman James Pallotta said the project took three years to be planned, and declared it will be "an historic milestone for the City of Rome and AS Roma".

The unveiling took place at the Commune of Rome hosted by Pallotta with Rome's Mayor Ignazio Marino as the guest of honour.

"We have worked exceptionally hard over the past two years and Particularly in recent months in collaboration with Mayor Marino and his administration in developing this stadium project for AS Roma, the City of Rome and our great fans," said Pallotta in a statement on Monday.

"The city and fans deserve this a world class stadium. We are confident the Stadium of Rome will be among the best in the world and a key driver for the club's continued success," he added.

The stadium is expected to cost around 1.1 billion euros ($1.23 billion).

"It is extremely important the project that provides a safe and secure year-round sports, entertainment, shopping and dining experience for visitors and the people of Rome," said Pallotta.

Roma currently share the Stadio Olimpico with city rivals Lazio. They finished runners-up to Juventus in the 2014-15 Serie A season.