NHAI to issue green bonds worth Rs 1,000 crore
The National Highways Authority of India (NHAI) will issue green bonds worth Rs 1,000 crore to raise funds for the implementation of environment-friendly measures such as solar lighting
With the advance analytics, the Data Lake software will forecast the delays, likely disputes and will give advance alerts.
The National Highway Authority of India (NHAI) has gone ‘Fully Digital’, with the launch of unique cloud based and Artificial Intelligence powered Big Data Analytics platform – Data Lake and Project Management Software, the Ministry of Road Transport and Highways said on Friday.
“The entire project management work flow of NHAI is transformed from manual to online portal based, wherein the complete project execution operations including ‘workflow with time lines’ and ‘alert mechanism’ have been configured. All project documentation, contractual decisions and approvals are now being done through portal only,” the Ministry said.
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With the advance analytics, the Data Lake software will forecast the delays, likely disputes and will give advance alerts. Thus apart from expediting the decision making, it will also facilitate in taking correct and timely decisions as the system is likely to predict financial impacts of different alternatives based on the historical data. This will reduce a lot of disputes.
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“NHAI has a history of having large number of arbitration cases pending with huge amount of claims and counter claims. Majority of the disputes are generic in nature like delay in handing over of encumbrance free site, shifting of utilities, idling charges of plant, machinery, equipment, manpower and delay in decisions etc,” the Ministry said.
These disputes can be minimized as the Data Lake software has provisions to keep track and check on all these constraints and will ensure work is carried out within the deadlines in a transparent manner. As all processes are going to be portal-based, decision-making is going to be faster and will eventually diminish chances of litigation in future, it added.
The Data Lake will bring revolutionary changes to NHAI with benefits like No delays, Quick decision making, No question of missing records, Work from anywhere/anytime. It will enhance transparency, as all officers and stakeholders, connected with the project can see what is going on real time basis which will amount to concurrent performance audit by the seniors.
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