The airport development project is scheduled to kick off on the 11th of April in Dharubaaruge.
MACL MD Adil Moosa said that the work on the project will begin immediately after that ceremony.
He added that agreements had been signed with contractors for the development of the runway, cargo complex and fuel farm.
Adil further said that the contract for the new international terminal will be awarded to a contractor within the next two months, with the work scheduled to begin this year. He added that the new terminal will be built adjacent to the current international terminal.
Adil Moosa said that the current international terminal will be converted to a domestic terminal, which will alleviate much of the issues facing the current domestic terminal.