By Stuart Condie

SYDNEY--Telstra Corp. Ltd. will invest up to 1.6 billion Australian dollars (US$1.1 billion) on two projects including expanding its optical-fiber network and building local infrastructure for ViaSat Inc.

The Australian communications provider said the bulk of the investment, which is in addition to its previously announced capital expenditure commitments, would occur between its 2023 and 2025 fiscal years. It expects to invest up to A$350 million annually over the period, with its investment eventually totaling A$1.4 billion-A$1.6 billion.

Telstra said it expects the combined investment to deliver an internal rate-of-return in the mid-teens, to contribute A$200 million in annual earnings by fiscal 2026, and to have a payback period of approximately nine years.

Write to Stuart Condie at stuart.condie@wsj.com

(END) Dow Jones Newswires

February 01, 2022 17:00 ET (22:00 GMT)

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