TORONTO – Telus will invest $1 billion in new communications infrastructure across Ontario through 2019, of which $245 million will be invested this year alone, the company said Monday.
Telus said that the funds will be used to increase wireless speeds and coverage in rural areas, extend its fibre optic Internet network to more businesses, invest in Internet-connected devices to promote the growth of the Internet of Things (IoT), and to help to deliver better healthcare solutions.
"By the end of 2019, Telus will have invested more than $45 billion to provide Ontario citizens businesses, healthcare providers and educators with access to critical next-generation health, education, business and government services and solutions," said president and CEO Darren Entwistle, in the news release. "The Telus team is dedicated to helping advance Ontario's economy by expanding the world's fastest wireless technologies to more communities across the province, enabling businesses to compete on a local, national and global basis."
These investments were reflected in Telus' capital expenditure guidance for 2016.
