The completion of the project would help irrigation in a vast area and mitigate water scarcity in Palamau region to a large extent, Das said at the meeting of the State Wildlife Board here.
The state government has discussed the project with the PMO and NITI Ayog and it was decided that the Centre would fund the project, an official release said here.
The North Koel Karo project, which was mooted in the 1960s and started in the 1970s, would benefit irrigation to Latehar and Garhwa districts, the release said.
The State Wildlife Board also decided to encourage bamboo plantation to lessen the damage to life and property done by elephants.
The chief minister asked official to give the plantation work to nearby villagers in order to enhance their income, the release said.
The compensation amount, given following damages perpetrated by elephants to life and property, would be increased, it said.