Construction of the facility began during the previous Manning PNM administration and was scheduled to be completed for the 2007 Cricket World Cup but the stadium still is unfinished.
The cost has also escalated around $500 million to more than $900 million under the previous administration.
The Housing minister, who has responsibility for UDeCOTT, which is in charge of the project, has said that the estimate has been finalised and will soon come up for government approval.
He said his ministry has completed the verification of bills for the project in order to recommence construction on the site.
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