TELUS (NYSE: TU), headquartered in Vancouver, British Columbia (B.C.), is planning to invest more than $50 billion over the next five years to expand and enhance its network infrastructure and operations across Canada. The company says this long term goal aligns with its 2025 capex guidance of nearly $2 billion, excluding real estate.
TELUS’ investments through 2029 are targeted at enhancing 4G and 5G wireless coverage and capacity across the country, extending fiber-to-the-premises connectivity to homes and businesses across B.C., Alberta, Quebec and Ontario, and expanding TELUS’ advanced broadband networks in Indigenous lands and rural areas. The company is also launching two secure, state-of-the-art Sovereign AI Factories in Kamloops, B.C. and Rimouski, Quebec.
At a time when the country is facing a challenging economic environment and seeks to attract more investment to stimulate growth, TELUS says this commitment to Canada’s future will help fuel homegrown innovation and support the prosperity of urban and rural communities.
“The [$50] billion investment we are making across Canada transcends traditional connectivity; it is powering advanced digital services, fueling innovation across all sectors of the economy and propelling our productivity as a nation,” comments Darren Entwistle, TELUS President and CEO. “Moreover, this investment is a cornerstone of Canada’s competitiveness on the global stage, driving critical transformational change and advancing our leadership in Canadian AI sovereignty, innovation and development.”
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