The Arab Petroleum Investments Corporation (APICORP) has launched the first Formosa bond out of Saudi Arabia, targeting the Taiwanese investor base.
The oversubscribed $300 million transaction is described as the first successful Formosa bond out of the Kingdom.
In order to appeal to the local investor base, the Formosa bond, also known as a Taiwan foreign-denominated international bond, is listed on the International Board of the Taipei Stock Exchange. Credit Agricole CIB acted as the lead manager on the trade.
Hesham Farid, head of treasury and capital markets, commented: “We are delighted with the high level of interest from top quality investors in our first Formosa bond. The oversubscribed issue has allowed us to develop strong relationships with a new set of investors in Taipei. This is testament to APICORP’s impressive 40-year track record, unique ownership structure and strong fundamentals, and reassuring Aa3 credit rating.”
He added: “Having previously accessed the sukuk market in both the Saudi riyal and dollar, it was important for APICORP to continue to diversify our investor base, sources of funding and educate investors on the strength of the APICORP credit.”
Abrar Hussain, head of DCM for the MENA at Credit Agricole CIB, commented: “APICORP ticks all the boxes required by this specific investor base. It offers a strong Aa3 credit rating, a solid ownership by regional governments, diversification in terms of access to assets in several countries as well as strong fundamentals all rolled into one. This is the perfect name for the Taiwanese investor base.”
APICORP issues $300 million five-year floating rate note in the Taiwan market
APICORP issues $300 million five-year floating rate note in the Taiwan market
Aramco Digital to launch National Industrial Network on 450 MHz band
Aramco Digital, the digital and technology arm of Aramco, is preparing to launch its National Industrial Network operating on the 450 MHz spectrum, a network designed to enable secure, resilient, and high-reliability industrial communications across Saudi Arabia. The network has been engineered as a mission-critical industrial infrastructure to deliver high levels of security, flexibility, and reliability to meet the needs of industrial sectors. It provides wide-area coverage with advanced protection standards, supporting operational environments that require continuous performance and dependable connectivity for critical facilities and assets.
“The National Industrial Network has been designed to support the advanced operational requirements of modern industrial environments, aimed at enhancing efficiency, strengthening business continuity, and enabling a new class of highly reliable industrial communications. Together with next-generation mission-critical smart radios, the network aims to help build a future-ready industrial infrastructure that enables real-time data insights, supports industrial digital transformation, and aligns with the ambitions of Saudi Vision 2030,” said Nabil Al-Nuaim, Aramco Digital CEO.
Unlike public networks, the National Industrial Network has been purpose-built for industrial environments, enabling connectivity for critical assets, supply chains, logistics operations, and autonomous mobility systems. The network seeks to elevate smart industrial services, supporting real-time monitoring, automation, enhanced safety, and higher operational efficiency across industrial sectors.
As part of the launch, Aramco Digital plans to introduce an integrated portfolio of industrial digital solutions powered by the 450 MHz network. These include specialized connectivity packages tailored to diverse sector needs, along with a new generation of mission-critical smart radios designed specifically for industrial operations. The devices combine rugged high-performance design and industrial safety compliance with advanced artificial intelligence capabilities, enhanced sensing technologies, extended battery life, and real-time on-device data processing, helping improve accuracy, safety, and operational continuity in complex environments.
The network has also been designed to support a wide spectrum of industrial IoT applications, including asset condition and performance monitoring, fleet tracking, air-quality and environmental sensing, intelligent video monitoring, smart metering, lighting and infrastructure control, as well as mobility and fleet-management solutions. These capabilities enhance operational transparency, automation, and efficiency across both industrial and public sectors.
The National Industrial Network aims to help establish a strong technological foundation for Saudi Arabia’s next industrial phase, contributing to the objectives of Vision 2030 by delivering highly reliable, nationwide industrial connectivity that enables automation, intelligence, and advanced digital services across vital sectors. By developing connectivity solutions aligned with the needs of modern industrial operations, Aramco Digital is helping shape the future of mission-critical digital infrastructure in the Kingdom, moving beyond traditional telecommunications to enable continuous interaction between devices, machines, and AI-powered systems, and strengthening real-time decision-making through edge processing.
The 450 MHz National Industrial Network represents more than an improvement in coverage or performance. It is a strategic step toward smarter, more autonomous, and technology-driven industrial ecosystems that enhance operational excellence and set a new benchmark for advanced digital infrastructure in Saudi Arabia.
With the accelerating pace of digital transformation in the Kingdom, secure and reliable connectivity has become a fundamental pillar in supporting operational requirements and driving economic growth. Organizations across various sectors— including industrial sectors and those enabling future economies — are increasingly relying on advanced connectivity solutions and technologies to enhance safety and reliability, improve operational efficiency, and unlock new horizons for sustainable economic development.
