What happened: Telus is investing $40 billion over three years on rural internet infrastructure
What it means: Residents in remote areas will have greater access to broadband connectivity
Telus Corporation (TSX: T) plans to spend about $40 billion over three years to build up broadband internet access in rural communities.
The Vancouver-based telecom giant announced the commitment Monday (March 18), noting it had previously invested more than $175 billion in infrastructure since 2000.
“The significant investments we are making in our world-leading networks are enabling us to connect Canadians in rural and remote communities to the people, resources and information that make their lives better,” CEO Darren Entwistle said in a statement.
“Given our passion for bridging geographic and socio-economic digital divides, we will continue to expand our high-speed internet and broadband wireless footprint across Canada to connect all Canadians.”
The company said its investments will be helped by the federal government’s new accelerated investment incentive, which provides an enhanced first-year allowance for certain eligible property.
