Bell is expanding its fibre-optic network to more than one million homes and businesses across Montreal.
The company will spend more than $850 million on the investment.
Montreal Mayor Denis Coderre was very pleased with the announcement and said it will aid the city in its quest to become a smart city.
"We are sending a very clear message that Bell, which has been here since 1880, is taking a leading role and is being an extraordinary corporate citizen," said Mayor Denis Coderre.
Bell expects the investment will result in 2,700 new jobs, both with the Bell and its suppliers and support companies, with $2.2 billion in economic spinoffs.
George Cope, the president and CEO of Bell Canada, said the fibre will run up to 1,000 megabits per second, which is about 20 times faster than the average internet connection in Canada.
Bell will be working with seven other companies to acquire supplies and to run the 7,000 km of fibre optic cable.
When this fibre optic network is finished, in about five years, about 3.5 million homes and businesses will have access in Quebec, Ontario, and Atlantic Canada. Bell is also planning to expand its network in Manitoba.
Bell is the parent company of CTV Montreal.
