Telus (TSX:T) will invest $4.5 billion to boost its communications infrastructure across British Columbia over the next three years, it announced April 5.
This year, the Vancouver-based telecom will invest $1.2 billion in fibre optic infrastructure in both rural and urban locations.
Some of the infrastructure improvements will include an extension of coverage to include more than 1,540 kilometres of highway that currently do not have service. The company said it currently serves more than 508 kilometres between Prince Rupert and Prince George along Highway 16, and it plans to extend this farther.
It also plans to connect Vancouver, Vernon, Dawson Creek, Merritt and Fort St. John to its gigabit-enabled fibre network.
More enhancements are planned in Telus’ electronic medical records management business.
Darren Entwistle, president of Telus, said in a press release that by the end of 2019, the company will have invested more than $51 billion in the province since 2000.
The infrastructure investment was included in the company’s capital expenditure guidance, which was released February 12 – a day after the company announced its profits had fallen 16%, due in large part to a drop in revenue from Alberta, where the slump in oil prices is taking a toll on the provincial economy.
[email protected]@EmmaHampelBIV
