Property, plant and equipment, net

3 Months Ended

Mar. 31, 2024

Property, Plant and Equipment [Abstract]

Property, plant and equipment, net

Property, plant and equipment, net

As at	March 31, 2024		December 31, 2023
Plant equipment	$	55.8	$	55.3
Computer equipment	4.6		4.5
Vehicles	0.2		0.2
Leasehold improvement	13.6		13.5
Construction in progress - Rochester Hub	549.2		547.2
Construction in progress - Spoke Network	31.1		34.7
Construction in progress - Buildings	28.8		29.5
	$	683.3	$	684.9
Less – accumulated depreciation	(18.3)		(16.1)
Total property, plant and equipment, net	$	665.0	$	668.8

For the three months ended March 31, 2024, $nil in borrowing costs (for the three months ended March 31, 2023: $7.7 million) were capitalized to assets under construction due to the pause of construction at the Rochester Hub. Depreciation expense for the three months ended March 31, 2024 was $2.2 million compared to $1.9 million in the corresponding period of 2023.

Refer to Note 17 for details of contractual commitments to purchase fixed assets.