05:13 PM EST, 12/16/2024 (MT Newswires) -- GEO Group ( GEO ) said late Monday it plans to invest $70 million to strengthen its capabilities to deliver expanded detention capacity, secure transportation, and electronic monitoring services to US Immigration and Customs Enforcement.

The company said it intends to pursue a possible sale of underperforming company-owned state correctional facilities to offset the capital expenditure and further reduce debt.