TEHRAN, Iran — Iran's semi-official Fars news agency is reporting that the country has unveiled a domestically manufactured tank and has launched a mass-production line.

The Sunday report quotes Defense Minister Hossein Dehghan as saying: "The tank has the capability to fire missiles and precisely guide them."

Fars says the tank named "Karrar" is equipped with an electro-optical fire control system and laser range-finder and is capable of firing at both stable and mobile targets day or night.

This picture released by the official website of the Iranian Defense Ministry on March 12, 2017, shows the domestically manufactured tank called "Karrar" in an undisclosed location in Iran. Iran's semi-official Fars news agency is reporting that the country has unveiled a domestically manufactured tank and has launched a mass-production line.

Photo Credit: Iranian Defense Ministry via AP

Dehghan also says the tank can compete with the most advanced tanks in the world in the three main areas of "power, precision and mobility."

Iran has been producing its own weapons and military equipment, including missiles, fighter jets and submarines, for more than two decades.