US number-two AT&T said it will invest US$14 billion to bring its mobile and fixed broadband infrastructure to more parts of the country over the next three years.
The Project Velocity IP plan includes US$8 billion to expand its 4G LTE network so that it reaches an additional 50 million members of the US population to take total coverage to 300 million people.
A further US$6 billion will be spent to provide an additional 8.5 million customer locations with its U-verse cable and fixed broadband and voice service.
“This is a major commitment to invest in 21st Century communications infrastructure for the United States and bring high-speed internet connectivity – 4G LTE mobile and wireline IP broadband – to millions more Americans,” said AT&T chairman and CEO Randall Stephenson.
The company’s annual total capital spending for the next three years is expected to be US$22 billion, with additional plans to invest in building a new fibre infrastructure that reaches 50 percent of multi-tenant buildings in areas covered by its fixed network, providing services to an additional one million business customer locations.
AT&T’s senior VP and federal regulatory and chief privacy officer Bob Quinn said the company hopes the investment will provide “some additional stepping stones” towards meeting the National Broadband Plan’s goal that telecoms companies retire legacy technology to drive next generation services.