Bell to advance internet, 5G networks with at least $1 billion in accelerated capital

Bell has announced an investment plan to advance internet and 5G network rollouts with at least $1 billion in accelerated capital over the next two years.

The carrier says this is the biggest ever annual capital plan in its history. The capital plan aims to add up to 900,000 additional fibre and rural wireless home internet locations while also doubling its 5G coverage this year.

“We are proud to ensure our networks will play a key role in the country’s move forward as we announce our plan to accelerate the rollout of Bell network connections to hundreds of thousands of additional locations in urban and rural communities alike this year,” said BCE CEO Mirko Bibic in a press release.

Bell says the investment is expected to create an estimated $2 billion in new economic activity and create approximately 5,300 additional direct and indirect jobs.

The carrier states that it expects to invest around $700 million of this capital this year to accelerate its wireless and wireline networks.

Further, the capital investment is expected to lead to an incremental increase of up 400,000 new homes and businesses covered with broadband service this year, along with nearly 250,000 additional all-fibre connections.

Bell made this investment announcement alongside the release of its Q4 2020 earnings report, in which the carrier reported 92,928 postpaid wireless net subscriber additions.

The carrier’s operating revenue declined 2.8 percent to $6,102 million in the quarter, as the pandemic continued to impact consumer and commercial activity including wireless product sales and media advertising.

Source: Bell