Telus to invest over $50 billion in Canada over next five years

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(Reuters) – Telus is investing more than C$70 billion ($50.88 billion) in Canada over the next five years to expand its network infrastructure in the country, the telecom company said on Tuesday.

The investment will go towards launching two new artificial intelligence data centers as well as help increase Telus’ wireless coverage and capacity across more regions, particularly the rural areas, the company said.

Telus’ big investment comes at a time when the Canadian economy is showing signs of a slowdown due to U.S. President Donald Trump’s tariffs on the country.

“As the country navigates a challenging economic environment and seeks to attract more investment to stimulate growth, this commitment to Canada’s future will help fuel homegrown innovation,” Telus said in a statement.

Canada sends the U.S. about 75% of its exports, including steel, aluminum and autos, which have been hit by the hefty U.S. duties.

The tariffs have prompted Canadian companies to review their ties to U.S. markets and boost local operations, while some firms are also setting up sales channels and offices in other countries.

Telus said the investment is consistent with its capital expenditure plans for 2025. The company in February projected about C$2.5 billion in annual capital spending, excluding real estate.

Demand for Telus’ bundled wireless packages and broadband networks has been strong. The company reported total mobile and fixed customer growth of 218,000 in the first quarter of 2025.

($1 = 1.3759 Canadian dollars)

(Reporting by Arsheeya Bajwa and Deborah Sophia in Bengaluru; Editing by Shreya Biswas)