Aside from being revealed to the public at the presentation, a Hoveyzeh-type missile has already been successfully tested, flying some 1,200km (745 miles) and accurately hitting a dummy target, the minister said.
Earlier on Saturday, Iran announced the "successful test" of a new cruise missile with a range of over 1,350 kilometres (840 miles), coinciding with the anniversary of the country's 1979 Islamic Revolution.
According to the statement, Iran continues to undertake efforts to increase the range and precision of its missiles, together with increasing the number of tests and operational launches.
Continuing Iranian missile tests have also alarmed the European Union - not to mention countries in the Middle East - and Monday's statement called on Tehran to stop such activities.
Iran's space programme has also been criticised by the West, with Washington charging that an abortive satellite launch in mid-January was cover for a bid to develop an intercontinental ballistic missile capability.
A UN Security Council resolution that enshrined Iran's 2015 nuclear deal with world powers called on Tehran to refrain for up to eight years from work on ballistic missiles created to deliver nuclear weapons.
The ultra-conservative Iranian Revolutionary Guard threatened to take a strategic leap with its ballistic missile range should European countries insist on curbing the cleric-led country's missile program.
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Seventy-two firefighters were deployed to the scene from OCFA and nearby fire departments. The National Transportation and Safety Board will investigate the cause of the crash.
The launch was broadcast on state television in a 37-second clip which showed the missile from different angles.
Since agreeing to a 2015 nuclear deal with world powers, Iran has expanded its missile programme despite warnings from the United States.
"The (EU) Council has serious concerns regarding Iran's military involvement and continuous presence of Iranian forces in Syria", the statement said. Tehran says the programme is purely defensive.
U.S. Secretary of State Mike Pompeo has accused Iran of testing a medium-range ballistic missile capable of "carrying multiple warheads", which he said could strike "anywhere" in the Middle East, including Israel, and even parts of Europe.
Iran's nuclear chief Ali Salehi during an interview with Reuters in Brussels, Belgium Nov. 27, 2018. Prior to the announcement of INSTEX, the Iranian hierarchy expressed doubts regarding whether European would deliver on its JCPOA [Joint Comprehensive Plan] pledges and of ease the pain caused by US sanctions. The measure froze the assets of an Iranian intelligence unit and two of its staff.
While Washington has embarked on re-imposing sanctions on Iran, the latter has vehemently refused to renegotiate anything or bring the missile program into the nuclear deal in any fashion. And Europe considers trade with Iran legitimate.