TELUS is excited to announce a $2-billion investment to deliver their global-leading broadband services across Ontario and Quebec over the next five years. This investment comes as a result of the CRTC confirmation of the wholesale fibre-to-the-premise (FTTP) framework and serves as a complement to their wholesale fibre access agreements, allowing TELUS to deliver national scale, accelerate network builds and drive investment, competition and affordability in Canada. This marks a significant milestone in TELUS' ongoing efforts to bring Canada's fastest and most reliable broadband services to more communities – fueling economic growth and ensuring all Canadians have access to next generation digital services.
New fibre-optic infrastructure will also serve as the backbone of TELUS' world-leading 5G wireless network, ensuring that people and businesses have the tools they need to manage their lives and drive business success in our digital world. Importantly, TELUS PureFibre is 85% more energy-efficient than copper, and more durable against extreme weather and environmental factors, making it a more sustainable and reliable technology.
This $2-billion investment will be part of TELUS' annual budget and will be supported by investments from their strategic build partnerships. This 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, and builds on the more than $276 billion TELUS has committed since 2000 to boost productivity and support a robust national 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 their deleveraging target for 2027, including the removal of the dividend reinvestment plan discount.
Darren Entwistle, President and CEO of TELUS
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. Against a backdrop of macroeconomic uncertainty, TELUS stands as one of the few companies committing to bold, future-focused infrastructure investments that bolster digital inclusion and bridge digital divides by bringing globally leading connectivity to communities of all sizes.
