Telstra, a telecom operator in Australia, has outlined a plan to extend 5G network coverage to 95 percent of the country by the end of 2025 and cut A$500 million or $366.85 million in costs.
Telstra has made an investment of $3,020 million towards Capex during the first half of 2021.
Telstra earlier said it has already expanded 5G rollout to selected areas in more than 200 cities and towns across Australia and the network now provides 5G coverage to more than 75 percent of the population till June 2021. Telstra had around 1.6 million 5G devices connected to network.
The cost reductions under the new plan, dubbed T25, are on top of the A$2.7 billion already being targeted under its current T22 strategy.
The plan will kick off on July 1, 2022, and includes the potential rollout of a 6G network.
Telstra also said it was confident of maintaining a minimum 16 Australian cent per share fully franked dividend through T25.
The company, which was split into three in November, sold 49 percent stake in its mobile tower business for A$2.8 billion in July.
Telstra has been trying to restructure its operations as it faces challenges on its fixed-line business from the rollout of a state-owned broadband network.