The Des Moines Airport Authority has awarded a contract to the Flynn Company to completely reconstruct a runway.
Forced to shut the runway last year after the discovery of a sinkhole, the airport has been putting off the project due to lack of funding.
First phase of the project is now expected to begin in May, which will require an investment of $14.8m.
A Federal Aviation Administration (FAA) approved airport-improvement grant is slated to cover around $13m of the cost of the first phase.
The total project will cost around $45m, with 90% of the construction cost expected to be funded by the FAA. The second and third phase of constrction will be carried out over the next two years, reported The Des Moines Register.
There is a possibility that one of two functional runways will be closed, which could result in flights facing crosswinds more frequently.
However, the Des Moines Register quoted executive director and general manager of the airport Kevin Foley as saying that the construction work would have minimal effect on travellers.
The reconstructed runway, dubbed runway 13/31, cuts diagonally across the airfield from the northwest to the southeast. A recent study had revealed that it needed to be replaced due to ageing asphalt.
Apart from replacing the runway, the airport also plans to replace additional sections during the summers of 2017 and 2018.
Image: A Delta Air Lines A320 parked at gate C1 of the Des Moines International Airport. Photo: courtesy of Jethawk11.