June 5, 2017 / 3:38 PM / 2 years ago

Telus to invest C$4.2 billion in Alberta through 2020

A woman uses a mobile device while walking past a Telus store in Ottawa February 19, 2014. REUTERS/Chris Wattie

(Reuters) - Canada’s Telus Corp said it would spend C$4.2 billion ($3.11 billion) on new broadband and wireless infrastructure in Alberta by 2020, as it tries to stay ahead in a highly competitive market.

Telus, which has been attracting more postpaid wireless customers amid heightened competition, said it would invest more than C$900 million this year alone in Alberta.

The company is in a heated battle with Shaw Communications Inc, which has recently beefed up its high-speed internet and cable TV products.

The strong growth for both major Western Canadian companies comes as Alberta recovers from an economic slowdown caused by a prolonged slump in oil prices from late 2014 though early 2016.

Telus said last week it would invest C$4.7 billion in a similar push in British Columbia.

Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Savio D'Souza

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