Telus to Invest CAD 700 Billion Over Five Years for Network Expansion

Telus, a leading telecommunications company, has announced a major investment plan for the next five years. The company will invest over 700 billion Canadian dollars, approximately 508.8 billion US dollars, to expand its network infrastructure across Canada. This investment will be used to build two new artificial intelligence data centers and enhance wireless coverage and capacity in more regions, particularly in rural areas.

The significant investment by Telus comes at a time when the Canadian economy is showing signs of slowing down due to the tariff policies of Donald Trump. The company's commitment to investing in Canada's future is aimed at supporting local innovation and economic growth during a challenging economic environment. Telus stated that this investment aligns with its 2025 capital expenditure plan, which was previously announced in February. The company had predicted an annual capital expenditure of approximately 25 billion Canadian dollars, excluding real estate investments.

Canada's economy is heavily reliant on exports to the United States, with approximately 75% of its exports, including steel, aluminum, and automobiles, being affected by high U.S. tariffs. These tariffs have prompted Canadian businesses to reassess their ties to the U.S. market and strengthen their domestic operations. Some companies have also established sales channels and offices in other countries to mitigate the impact of the tariffs.

Telus's investment is expected to drive economic growth and create new opportunities for both urban and rural communities in Canada. The company's focus on expanding its network infrastructure, including fiber optic, 5G, and artificial intelligence capabilities, positions it as a leader in the telecommunications sector. This investment is also expected to support the demand for Telus's wireless bundles and broadband network services, which have seen significant growth in the first quarter of 2025, with a total increase of 218,000 mobile and fixed customers.