Key Highlights:
- Telus Corp will be investing $17 billion in network infrastructure, operations, and spectrum across Alberta, Canada.
- Telus stated that the expansion is expected to add 8,000 jobs in Alberta.
- Telus also confirmed that the capital expenditure was increased by $148 million in Q1 of 2022 due to the increased investment.
Telus Corp confirmed that it will be investing $17 billion in network infrastructure, operations, and spectrum across Alberta in Canada. The investment is for the timeline of four years as the company is looking forward to expanding the wireless networks.
The company has also committed to investing $70 billion across Canada by 2026. Telus stated that the expansion is expected to add 8,000 jobs in Alberta.
The rising competition has accelerated the efforts by telecom companies to develop the networks in rural areas of Canada and expand the coverage to enter markets that have new providers.
Telus’ investment efforts
The investment is announced at a time when the competitor Rogers Communication has shown interest in buying Shaw Communications in the $16 billion deal to create the country’s second-largest telecom company.
Last year, the company announced that the company aims to accelerate $1.5 billion of capital spending in 2021 and 2022, with around $750 million to be used in 2021 and the remainder in 2022.
Telus also confirmed that the capital expenditure was increased by $148 million in Q1 of 2022 due to the increased investment in the 5G network, product development, broadband build, and digitization to increase system capacity.
In the Q1 of 2022, Telus invested $200 million in the capital which was targeted at,
- Accelerating the premises of connected fiber network
- Acceleration of copper-to-fiber migration program
- Expanding the fiber build to several additional communities
- Advancement of 5G network build
- Progressing with the implementation of digital strategy and product enhancement efforts
