The estimated cost comes up to ZMK240 billion ($43.5 million).
According to Lusaka Times, the sports minister was responding to Patriotic Front (PF) Kankoyo Member of Parliament (MP) Percy Chanda, who wanted to have updates on the stadium.
According to Chipungu the renovation process is slow due to tender procedures, and the work would reach completion by 2010.
An artificial turf has been laid at the stadium and work on the grand stand would soon commence once a constructor is identified.