To meet the target, agriculture must grow at 15% compared to average of below 2% over the past four years
Posco will have to bid for an iron ore licence to feed its plant.
POSCO officials have said it was unlikely to build the plant without assured supply of iron ore.
Vedanta Aluminium has been struggling to source sufficient bauxite to feed the 1 million tpy alumina refinery since its commissioning in August 2007.