The sod is set to be officially turned on the new €30 million construction phase of Waterford Airport.
Today's event will mark a significant milestone in what is planned to be the eventual resumption of commercial flights to and from the south east of the country.
Around 140,000 people passed through Waterford Airport annually during its busiest years but there has not been a regular passenger service at the airport since 2016.
The runway will now be lengthened to over 2,200 metres and widened to 45 metres to accommodate large commercial jet aircraft.
The series of upgrades will enable the return of commercial passenger services, with a target set of the airport handling upwards of 400,000 passengers annually within three years.
The upgrade works are set to be begin immediately following the takeover of the airport by US oil billionaire, Kelcy Warren.
The new operators of the airport expect to make announcements in the final quarter of the year about a "likely pairing" with both an Irish and overseas airline.
Mr Warren is the chief executive and chairperson of Energy Transfer, one of the largest oil and gas pipeline companies in the US.
He is investing in the region of €30 million in the redevelopment of the airport.
Waterford City and County Council gave the green light for the redevelopment plan at a special meeting last October.
The council said the proposal would deliver full airport development works set out in an existing business plan without the need for Government funding.
The terminal building and ground equipment will also be upgraded as part of the plans while the car parking facilities will be expanded.
Mr Warren subsequently passed a Foreign Direct Investment (FDI) screening process.
Summer 2027 has been earmarked as the possible return date for commercial flights to Waterford Airport following the decade-long hiatus.
Last month, the shareholders of Waterford Regional Airport Plc voted to wind up the company, allowing Mr Warren to become the main proprietor of the airport under the newly-formed Waterford Airport Ltd.
William Bolster, the largest shareholder in Waterford Regional Airport Plc, had acted as the key connect between Mr Warren and the current board.
Mr Bolster previously said the decision by the council to back the takeover plan "paves the way to deliver a vital infrastructure project for the south east".
"[This] will not only secure existing jobs but will allow employment to expand with upwards of 100 jobs both on and off site involved during construction," he said.
"Once complete, further jobs will be added as scheduled air traffic proceeds," he added.
According to Forbes, Mr Warren has a net worth of €6.8 billion, ranking him within the richest 500 people in the world.
