Kerala Chief Minister Ommen Chandy says the state government is planning to bring about a new land acquisition policy that will satisfy the interests of the land owners whose property is acquired for development projects.

He was addressing a function at Moolampally in Kochi last evening, after distributing the benefits announced by the state government for those evicted for the Vallarpadom International Container Transhipment Terminal project. He said people evicted for development projects should become the first beneficiary of such projects.

Mr Ommen Chandy said the new policy envisages allowing concessions in building laws for construction in the remaining land and immediate rehabilitation for those whose dwellings are taken over.

The Chief Minister added that the government is examining the possibility of making land owners shareholders, whose property is acquired for BOT projects.