This is according to the vice minister in charge of the project Anton Yagama who is also the MP for , Usino Bundi.
The $US235 million project, which would establish up to ten canneries and other port facilities on the Madang Lagoon, has been delayed for more than a decade due to legal, environmental and landowner issues.
However the prime minister Peter Oneil recently recommitted his government to construction of the PMIZ which will be carried out by China Shenyang International Technical Economic Corporation.
Anton Yagama said the aim was to have the first cannery operational before the elections in April next year.
"We are just waiting on the funding now, to get the money in. We are getting Chinese government funding. We got some foundational work done. We have got the contractor is on site waiting for the funding to come so things will happen," said Anton Yagama
Mr Yagama says the initial funding allocated for the cannery was around $US1.5 million but says more than a hundred million is available to draw from.
He said once set up PNG will use the cannery as a showcase to invite neighbouring Pacific countries as well as other foreign companies to set up their own operations in Madang. Source: Radio New Zealand