TELUS - President and CEO, Darren Entwistle
President and CEO, Darren Entwistle
Source: Financial Post
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • TELUS (T) is investing $17 billion in Ontario and $9 billion in Quebec through 2024
  • The company will invest in its 5G and PureFibre networks, create jobs in construction, engineering, and emerging technologies, and support grassroots charities
  • 24 communities in Ontario and 157 in Quebec will gain access to 5G by the end of 2021
  • The company is also aiming to provide every home and business in Quebec access to its PureFibre network by 2022
  • TELUS (T) is down 0.23 per cent on the day, trading at $26.36 per share

TELUS (T) announced plans to invest $17 billion in Ontario and $9 billion in Quebec through 2024.

The investments will support infrastructure and connectivity throughout the provinces, including TELUS’s 5G and PureFibre networks.

The company has already invested $53 billion in Ontario and $30 billion in Quebec since 2000.

In Ontario, the company plans to connect an additional 24 communities to its 5G network by the end of 2021 to contribute to the focus on access to online healthcare and education for Ontarians.

In Quebec, that number is 157 new communities that will be connected to 5G by the end of 2021. TELUS also plans to connect hundreds of thousands of homes and businesses to its PureFibre network by 2022.

TELUS will also create 10,000 new jobs in Ontario and 8,000 in Quebec in construction, engineering, and emerging technologies. The company will continue to support grassroots charities as the provinces recover from the COVID-19 pandemic.

Darren Entwistle, president and CEO of TELUS, commented,

“Now more than ever, TELUS is committed to keeping our citizens and communities connected, productive and healthy through our globally leading wireless network.”

Vic Fedeli, Ontario’s minister of economic development, job creation, and trade, mirrored that sentiment, remarking,

“As we all work together towards Ontario’s economic recovery, it is more important than ever for communities in every corner of our province to have access to the latest communications technologies.”

TELUS will continue to invest in its TELUS Agriculture and TELUS Health solutions in both provinces, and is committed to “further our position as a global leader in social capitalism and the most giving company in the world.”

The company has been committed to supporting Canadians through the pandemic by giving $85 million to charities in Canada and around the world to drive meaningful change for the most vulnerable citizens.

TELUS (T) is down 0.23 per cent on the day, trading at $26.36 per share as of 11:42 am ET.

More From The Market Herald

" TELUS Corporation (TSX:T) acquires shares of Telus International

TELUS Corporation’s (T) wholly-owned subsidiary has signed a purchase agreement with an entity affiliated with Baring Private Equity Asia (BPEA).
The Market Herald Video

" EasTower Wireless (TSXV:ESTW) signs agreement with leading tower operator

EasTower Wireless (ESTW) has signed a master service agreement with one of the largest tower operators in the world.

" Sangoma Technologies (TSX:STC) announces NCIB

Sangoma Technologies Corporation (STC) has announced a Normal Course Issuer Bid (NCIB).
TELUS - President and CEO, Darren Entwistle

" TELUS (TSX:T) to acquire LifeWorks for $2.9-billion including debt

TELUS (T) has agreed to acquire global digital health and wellness provider LifeWorks (TSX:LWRK).