Thursday, January 19 2006 15:13 Hrs (IST) - World Time -

Mumbai: Union Civil Aviation Minister Praful Patel has categorically said the process of restructuring and modernisation of airports at Mumbai and Delhi would be completed before January 31.

"The entire process (of restructuring and modernization of airports) shall be completed before January 31", he told a gathering last night at the annual awards function of leading magazine Business India.

"You know we resolved the long pending Indian Airlines and Air-India deals the same way restructuring of the airports will be done soon", Patel told reporters later on the sidelines of the function.

Earlier, presenting 'The Businessman of the Year-2005' award to CEO and MD of ICICI bank, K V Kamath, the minister said the civil aviation sector in India was growing leaps and bounds and the country needed at least 2000 aircraft as against the existing 200 planes.

Eighty lakh people travel by air and this figure is expected to grow tenfold in the next five to ten years, requiring an investment of US$ 30 to 40 billion. In such scenario, good airports were required all over, he said.

Replying to his felicitation, Kamath said in the coming years, the focus of his bank would be on rural India where wealth can be generated. India is a place of happenings and ICICI would fully use its potential to grab all growth opportunities available in the country.

Congratulating the award winner, Ashok Advani, printer-publisher, Business India, said award winning businessmen were role models for members of corporate world and added that purpose of honoring them was to highlight their success stories.