DAA's CEO also vowed to protect more than 14,000 jobs over the next 20 years.
The new North Runway at Dublin Airport is being hyped as "the most important thing that Ireland will build in a generation," according to the airport authority's Chief Executive.
The state company's CEO Dalton Philips made the announcement as DAA released its annual results for 2017, championing the runway as an important factor in Ireland's well-being over the next few decades.
"North Runway will be Ireland's new path to the world, and will help position the country to compete globally in a post-Brexit environment. It will underpin the growth of Irish tourism, trade, and foreign direct investment for the benefit of the entire country," Phillips said.
Philips added that the airport authority will be appointing a main contractor for the runway this autumn, with works expected to begin in the final quarter of 2018. It is due to be completed in early 2021 and a nine-month commissioning phase will follow before the runway opens.
In his announcement, Philips added that the DAA will be continuing to work on changing the permitted operation of the new runway by seeking to amend two restrictive conditions that would limit the airport's operation during the night and early hours of the morning, otherwise seen as the airport's busiest times.
"The impact of the restrictions would cost 14,700 jobs within 20 years of the new runway opening," Philips warned.
Any changes to the permitted operation of the runway will be decided within a proposed new noise management regime for Dublin Airport.
The Competent Authority that will be regulating noise at the Airport will be Fingal County Council, Minister for Transport Shane Ross confirmed in early 2018.
Addressing the regulations, Philips said: "We will engage fully with the new noise regime to make a very strong case for the existing restrictions to be amended and to ensure clarity for airlines, passengers and other stakeholders."
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