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Investing.com -- Today, Telus Corp (TSX:T) announced it will invest more than C$70 billion over the next five years to upgrade and expand its network and operations across Canada. The initiative, designed to stimulate innovation and digital inclusion, comes at a time when the national economy is grappling with macro uncertainties and increased calls for private sector-driven growth.

The company’s plan includes widespread fiber-optic deployment, the expansion of 5G infrastructure, and the scaling of digital equity programs reaching Canada’s most underserved communities. Chief Executive Darren Entwistle said the investment is not only about connectivity, but about “powering advanced digital services, fuelling innovation across all sectors of the economy and propelling our productivity as a nation.”

Since 2000, Telus has committed more than C$276 billion to Canada’s digital infrastructure, positioning itself as one of the largest private investors in the country’s economy. Over the same period, the telecom has garnered recognition for its growing suite of social impact programs, including its Health for Good and Friendly Future Foundation efforts.

Entwistle emphasized the broader national benefits of this commitment: “The $70-billion investment we are making across Canada transcends traditional connectivity. It is a cornerstone of Canada’s competitiveness on the global stage, driving critical transformational change and advancing our leadership in Canadian AI sovereignty, innovation and development.”

A centerpiece of this latest strategy is Telus’ plan to bring PureFibre connectivity to new urban and rural regions in British Columbia, Alberta, Quebec, and Ontario, while also expanding coverage to 73 more rural and Indigenous communities by 2026. Simultaneously, Telus will redevelop some of its facilities into mixed-use TELUS (TSX:TIXT) Living real estate developments that seek to address housing and sustainability challenges through the reuse of copper infrastructure.

The company is also investing in new technological infrastructure to enhance Canadian data sovereignty, including launching two Sovereign AI Factories in Kamloops and Rimouski. Telus said these data/AI centers will ensure that “every piece of data, computation and breakthrough created will remain within our borders.”

According to Telus, more than 1.4 million Canadians have benefited from its digital accessibility and healthcare programs to date, a figure expected to expand under the new capital plan. Beyond social impact, the company is leveraging its data and technology to digitize traditional industries via its Agriculture&Consumer Goods division, improving sustainability and traceability in Canada’s food supply chain.

Since 2000, Telus has paid an estimated C$61 billion in total taxes and fees, including over C$2.3 billion in 2024 alone, demonstrating what it termed a commitment to tax morality and national development. “Through our team’s passionate efforts,” Entwistle noted, “we are ensuring that all of our fellow Canadians can fully participate in, and benefit from, the digital economy and our digital societies for generations to come.”

This content was originally published on http://Investing.com