Rebuilding the parts of South Africa's Parliament which were destroyed by a fire earlier this year will cost over R1.2 billion (71.06 million U.S. dollars), the Public Works and Infrastructure Minister Patricia de Lille said.

De Lille said a final report on the incident had been forwarded to the Speaker of the National Assembly and the National Prosecuting Authority (NPA).

Fire razed the Houses of Parliament in Cape Town on January 2, causing massive damage to the building.

A suspect was arrested in connection with the fire, and is facing several charges including housebreaking with intent to commit terrorism, two counts of arson and theft.

"It's just over R 1.2 billion, that is the estimated cost by the Development Agency, once parliament decides to redesign the internal part of the National Assembly," said de Lille.

The building is home to thousands of treasures including historic books, photographs and important works of art.

The Houses of Parliament are made up of three sections, with the oldest dating back to 1884. The newer sections built in the 1920s and 1980s house the National Assembly.