The Rwandan Government is planning to build a new international airport by 2015 to reduce pressure on the existing Kigali International Airport.
Bugesera International Airport, to be located south of Kigali City, will cost $700m.
The project will be developed in phases, the first phase costing $450m and the second phase $250m.
Phase I will include building a terminal, a larger runway and facilities for fuelling and security, while phase II will include building a second runway.
The government has hired PricewaterhouseCoopers as transaction advisor to mobilise private capital to invest in the public-private partnership project.
UK-based engineering company TPS Consult is working on the project's detailed design.
Work is expected to begin once the project secures funding, according to East African Business Week.