Telus has announced a $2 billion investment to deliver its broadband services across Ontario and Quebec over the next five years.
The investment comes as a result of the CRTC confirmation of the wholesale fibre-to-the-premise (FTTP) framework and serves as a complement to Telus’ wholesale fibre access agreements.
“Today’s announcement regarding our Telus broadband fibre and wireless expansion reinforces our long-standing commitment to sustained, transformative investments that advance economic and social prosperity for all Canadians,” says Darren Entwistle, President and CEO of Telus. “The $2 billion we are investing in Ontario and Quebec over the next five years transcends traditional connectivity; it is powering new and advanced digital services including, AI-fuelled smart home energy management, next-generation healthcare, affordable security, and exciting entertainment solutions, driving innovation across all sectors of the economy and our societies, propelling our productivity and quality of life as a nation.”
New fibre-optic infrastructure will also serve as the backbone of Telus’ 5G wireless network, ensuring that people and businesses have the tools they need to manage their lives and drive business success. Importantly, Telus PureFibre is 85% more energy-efficient than copper, and more durable against extreme weather and environmental factors, says the company.
The $2 billion investment will be part of Telus’ annual budget and will be supported by investments from strategic build partnerships. The investment program comes on top of the $70 billion Telus announced earlier this year to enhance connectivity, support Canadian AI leadership, and fuel economic growth through 2029. It also builds on the more than $276 billion Telus has committed since 2000 to boost productivity and support for the economy.
These investments are consistent with Telus’ guidance for 2025, including capital expenditures, as disclosed in the company’s fourth quarter 2024 results and 2025 targets news release dated February 12, 2025, and in the company’s first quarter 2025 results news release dated May 9, 2025.
This investment profile aligns with the company’s longer-term capital-intensity aspirations and deleveraging target for 2027, including the removal of the dividend reinvestment plan discount.