The monument has been shifted about 40m south of its former site at a cost of about $685,000 to make way for road safety improvement on State Highway 1 through central Oamaru.
Before the old monument was demolished, decorative stone, marble plaques, including one with the names of the fallen, and the 2.74m high Trooper David Mickle Jack statue on the top were removed by Dooleys Masonry to be restored, and are now being affixed to the new structure.
Contractors Fulton Hogan demolished the old monument and then constructed a concrete skeleton on the new site.
The monument is made of Port Chalmers bluestone, granite, dressed Malmesbury stone, marble and red granite.
Reconstruction of the monument is expected to be completed before the end of next month.