Australian telecommunications company Telstra Corp. is planning to pour up to A$1.6 billion ($1.1 billion) into two infrastructure projects, according to Market Watch.
The projects include helping the company expand its optical-fiber network and building local infrastructure for California-based communications company ViaSat Inc. The lion’s share of the investment would be made between Telstra’s 2023 and 2025 fiscal years.
The company expects to invest up to A$350 million ($248 million) annually over the time period, with its investment eventually reaching A$1.4 billion ($992 million) to A$1.6 billion ($1.1 billion).
“Investing in these two truly significant nation-building projects will see us continue to have the largest inter-city fiber network in the country, helping to future proof Australia's digital economy and further improving connectivity in regional Australia,” said Andrew Penn, CEO of Telstra.
