MANILA, Philippines — President Ferdinand Marcos Jr. on Tuesday inaugurated the largest water reservoir project in Iloilo seen to further boost agricultural production as well as the local economy of the entire region.

The inauguration of the Jalaur River Multipurpose Project Stage II (JRMP II), the largest dam outside Luzon, was made more than 40 years after the completion of its first stage in 1982 during the time of the President's father, the late Ferdinand Marcos.

In his speech, the President highlighted that it was by far, the largest water reservoir project of the National Irrigation Administration (NIA) outside of Luzon.

"Costing almost P20 billion, the JRMP II has three key components: irrigation development, environmental and watershed management, and institutional development," he said.

Marcos said with the further completion of the construction of three dams and line canals spanning more than 80 kilometers, more than 30,000 hectares of service area and around 25,000 farmers would benefit from the supply of irrigation water.

"This should boost further the development in the agricultural sector as well as the local economy of the entire region," Marcos said.

"In fact, it is estimated to help increase annual rice production in Region 6 by 160,000 metric tons, which is almost 20 percent of the region's annual rice requirement," he added.