It is a joint venture between Goa and Maharashtra.
State Water Resources Minister Dayanand Mandrekar told the Legislative Assembly that the project was on the verge of completion.
"Under the project, 11,166 hectares command area is already developed in Goa. Now it is for Command Area Development Authority (CADA) to use this potential for the agricultural growth," he said.
The Minister was responding to a cut motion moved by opposition over budgetary demands for civil supply, water resources and art and culture departments.
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The cost went up due to delay in land acquisition for canals, he said.
Earlier, the opposition alleged that the project had got inordinately delayed.
Leader of Opposition Pratapsingh Rane said the project was to be completed on a priority basis.