On January 31, 2003, the Cabinet of the Government of Mauritius agreed to use funds from interest-free loans offered by the PRC for the renovation and repair of the Plaza Theatre in Rose-Hill. The project consists of three phases: phase I is the renovation of the roof, phase II is the renovation of the facades and administrative wing, and lastly phase III is the refurbishment of the theater space and auxiliary works. As of May 31, 2011, phase 1 of the project had been fully financed and completed in 2008 for a cost of 87 million MUR. A request for the release of funding for phase II and III was submitted to the Ministry of finance on March 31, 2010. At that point, the project value was proposed to be 267.2 million MUR, three and a half times greater than the 75 million MUR earmarked by the government for the project in February of that same year. On June 28, 2010, the Ministry of Arts and Culture had reviewed the project value to 457 million MUR. According to a May 2011 report, the value for phase II will be 67 million MUR, pending funding, and the Project Planning Commission recommended that phase III be put on hold.