The USA Today quotes Agustin Arellano, CEO of Aerostar Airport Holdings, who explains that the first terminal is scheduled to open in November and the second in December 2015.
He says both the new passenger facilities will feature a range of concession including high-end retail stores and new restaurants, as well as automated baggage scanners.
Spirit, Delta Airlines, United Airlines and Southwest Airlines are scheduled to move into the first terminal by February, Arellano adds in the US publication.
Aerostar also is pushing to attract new airlines, with Norwegian Air Shuttle expected to offer flights to Norway and Sweden by year's end, the report claims.
The renovations have generated nearly 3,000 jobs, according to Aerostar in the report, a joint venture of Highstar Capital and Grupo Aeroportuario del Sureste, which also operates Cancun Airport and eight other airports in southeastern Mexico.
Tuesday's announcement comes more than a year after Aerostar signed a $2.6 billion deal with Puerto Rico's government and took over operations of the Luis Munoz Marin International Airport.
The gateway to Peurto Rico currently handles about 8.5mppa a year and is served by 31 airlines.