EDMONTON, ALBERTA — (Marketwired) — 06/19/15 — TELUS (TSX: T)(NYSE: TU) is investing $1 billion in Edmonton to connect more than 90 per cent of homes and businesses directly to the company–s state-of-the-art fibre optic network over the next six years.
The TELUS fibre optic network is among the most advanced communications infrastructure available in the world today. When the service is launched in Edmonton later this year, local residents and businesses will be able to take advantage of Internet speeds of up to 150 megabits per second – a dramatically faster service made possible by a direct fibre optic network connection. In coming years, TELUS plans to offer families and businesses in Edmonton increasingly higher speeds over this gigabit-enabled network. Importantly, local healthcare providers, educators and technology companies will also be able to draw upon the network to completely reimagine how they deliver existing services and develop entirely new solutions.
“Our $1 billion investment in Edmonton will create Canada–s largest urban centre with nearly ubiquitous access to the fastest and most reliable Internet services to dramatically improve the way Edmontonians live, work and socialise in a digital world,” said Darren Entwistle, TELUS– Executive Chair. “TELUS is committed to better connecting citizens by linking homes, hospitals, clinics, doctors, pharmacists, businesses, schools, libraries and municipal governments directly to our fibre optic network, bringing advanced broadband services and unparalleled security to the entire connected community. Indeed, with less than 10 per cent of North Americans currently linked to a fibre optic network, TELUS is providing a distinct advantage to the city and its citizens who will ultimately have superior access to economic growth opportunities, critical healthcare solutions, world-class education programs and exciting social applications to enhance their fast-moving consumer lifestyles.”
“Today–s announcement helps enhance Edmonton–s reputation for being an innovative city and it will enable us to achieve more of the goals outlined in our Open City Initiative, including greater citizen engagement,” said Edmonton Mayor Don Iveson. “We are excited about the economic development potential that fibre to the premises offers, including opportunities to build on Edmonton–s strengths in the areas of new technology, health care and education.”
“This investment represents a major vote of confidence in our economy that will help ensure Alberta remains a top choice for businesses to invest and create jobs, and for families to live, work and play,” said Premier Rachel Notley. “Our government looks forward to working with the City of Edmonton to realize the full economic and quality-of-life potential of this new communications infrastructure.”
Edmonton residents can expect to see the TELUS team across the city neighbourhood by neighbourhood, knocking on doors to discuss connecting homes and businesses directly to TELUS– fibre optic network and installing infrastructure. There is no requirement to be a current TELUS customer to be connected to the network, nor are there any conditions to purchase services once the network construction is complete.
This significant commitment is part of TELUS– plan to invest an additional $4.2 billion in Alberta through 2018. When combined with operational expenses, this will bring the total TELUS investment in Alberta over the next four years to more than $11 billion. By 2018, TELUS will have invested more than $45 billion in Alberta since 2000 to further extend advanced telecommunications infrastructure and services, ensuring sustained innovation and fueling economic growth.
TELUS– dedication to Edmonton extends well beyond the company–s investments in operations and infrastructure. Since 2000 the TELUS team in Edmonton has volunteered 730,000 hours with its hearts and hands and contributed $38.5 million to numerous charitable and community organizations.
In celebration of today–s announcement, on behalf of the company–s more than 6,200 employees and retirees in Edmonton Mr. Entwistle also announced TELUS is making a $120,000 investment at the Edmonton Public Library. This investment will establish the TELUS Health Innovation Fund to help create healthier outcomes, and also provide needed funding for the library–s “epl2go Literacy Vans,” thus helping to ensure a brighter future for the community.
For more information on the TELUS Fibre Optic Network and how you and your community will benefit from it, visit telus.com/edmonton or call 1-855-595-5588. Business owners are invited to call 310-3100.
About TELUS
TELUS (TSX: T)(NYSE: TU) is Canada–s fastest-growing national telecommunications company, with $12.1 billion of annual revenue and 13.9 million customer connections, including 8.3 million wireless subscribers, 3.1 million wireline network access lines, 1.5 million high-speed Internet subscribers and 937,000 TELUS TV customers. TELUS provides a wide range of communications products and services, including wireless, data, Internet protocol (IP), voice, television, entertainment and video, and is Canada–s largest healthcare IT provider.
In support of our philosophy to give where we live, TELUS, our team members and retirees have contributed more than $396 million to charitable and not-for-profit organizations and volunteered over 6 million hours of service to local communities since 2000. Created in 2005 by Executive Chairman Darren Entwistle, TELUS– 11 Canadian community boards and 4 International boards have led the company–s support of grassroots charities and will have contributed more than $54 million in support of over 4,800 local charitable projects by the end of 2015, enriching the lives of more than 2.1 million children and youth. TELUS was honoured to be named the most outstanding philanthropic corporation globally for 2010 by the Association of Fundraising Professionals, becoming the first Canadian company to receive this prestigious international recognition.
For more information about TELUS, please visit telus.com.
Forward-looking statement:
This news release contains statements about expected future events, including TELUS– projected multi-year capital and operating expenditures, which are forward-looking. The investments described for 2015 through to 2018 are subject to the ongoing review and approval of TELUS– Board of Directors. By their nature, forward-looking statements require the Company to make assumptions and predictions and are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors (such as regulatory and government decisions, the competitive environment, economic conditions, our ability to purchase spectrum licences through auctions or third-parties, and our earnings, free cash flow and financial position) could cause actual capital and operating expenditures to differ materially from those expressed in the forward-looking statements. Accordingly, this news release is subject to the disclaimer and qualified by the assumptions (including the assumptions for our 2015 annual guidance, semi-annual dividend increases through 2016, ability to sustain and complete our multi-year share purchase program through 2016), qualifications and risk factors referred to in the 2014 Management–s discussion and analysis, which are specifically incorporated by reference herein, and in other TELUS public disclosure documents and filings with securities commissions in Canada (on SEDAR at sedar.com) and in the United States (on EDGAR at sec.gov). Except as required by law, TELUS disclaims any intention or obligation to update or revise forward-looking statements.
Contacts:
Shawn Hall
TELUS Media Relations
(604) 619-7913
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