A modern vision for Sydney’s Transport


A modern city needs a modern transport system. That’s why, at ALTRAC, we are dedicated to the success of Sydney’s Light Rail. We are more than just transport operators – we are designers, builders and financiers who support Sydneysiders in taking close to 30 million trips a year across their great city.

Who We Are?

Who We Are?

ALTRAC is a partnership between Aware Super, John Laing Investments and Acciona Concesiones.

It is majority owned by Aware Super, one of Australia’s largest industry funds for teachers, nurses, firefighters, paramedics, and other essential frontline workers. The remaining ownership is shared between John Laing Investments, a leading international investor and active manager of core infrastructure assets, and Acciona Concesiones, a global infrastructure development group.

The ALTRAC Partnership leads a consortium of three key sub-contractors, Alstom, Transdev, and Acciona.

ALTRAC’s subcontractors and their areas of focus are as follows:

  • Alstom – Design, Construction & Maintenance (Systems & Rolling Stock)
  • Transdev – Service Operations & Maintenance
  • Acciona – Design & Construction (Civil Works)

A joint venture between Acciona and Alstom was responsible for the design and construction of the Central and South-East Light Rail (CSELR).

Whilst Transdev and Alstom are now responsible for the operation and maintenance of two of Sydney’s major transport lines: the CSELR, which is a 12km, 19-stop route running from Circular Quay to Randwick and Kingsford, and the Inner West Light Rail (IWLR), a 12.7km, 23-stop route operated on behalf of Transport for NSW that runs from Central Station via Darling Harbour to Leichhardt and Dulwich Hill.

The ALTRAC Vision

The ALTRAC Vision

At ALTRAC, we are committed to delivering a world-class light rail service.

‘The experience is everything’

We aim to achieve our mission by taking a whole-of-journey approach to the provision of light rail services. No matter where a passenger steps on or hops off, their experience should reflect the exceptional standard we set for ourselves.

Through ongoing collaboration with the NSW Government and comprehensive engagement with Sydney communities and stakeholders, we hope to build an even more accessible, sustainable, and integrated transport system in service of commuters, helping connect them with both their city and its citizens.

Our Mission: Working for the future of Sydney transport

Our Mission: Working for the future of Sydney transport

ALTRAC’s partners are committed to building on the success of Sydney Light Rail in order to expand the footprint of light rail and grow its presence throughout Sydney and beyond.

We aim to deliver a world-leading light rail system that allows residents, visitors, commuters, and businesses to enjoy every aspect of their incredible city.

In Sydney’s George Street, in particular, the change has been remarkable, as lanes of gridlocked traffic have been replaced by a quiet, open and easily traversable boulevard that reflects Sydney’s status as a modern global city. As light rail expands across the city and the quality of the service continues to improve, we look forward to seeing the positive transformation that will accompany it, and the flow-on effects on businesses, residents and commuters.

“The work to turn noisy, traffic-choked George Street into a pedestrian boulevard and central spine for the city began in 2007, when Jan Gehl’s report on public spaces suggested three city squares at Circular Quay, Town Hall and Railway Square, all linked by a light-rail and pedestrian boulevard,” the Lord Mayor said.

Our Partnership Committee

Penny GrahamChair / Partner Representative

As our CEO, Duncan is at the helm of ALTRAC with extensive global experience in transport and infrastructure roles and is focused on delivering ALTRAC’s long-term vision and growth strategy.

Duncan brings more than 20 years of international and Australian experience in the infrastructure, transport, government, and corporate sectors. He has an in-depth understanding of government and commercial markets, most recently establishing and leading Major Projects Canberra in the ACT.

Dedicated, experienced, and reliable, Duncan is leading the ALTRAC team as we embrace the future growth of ALTRAC and of public transport together.

Alister WalkerPartner Representative

Meet Krystle, our determined and driven Chief Operating Officer who is responsible for the management of all light rail operational and project delivery matters within ALTRAC. Krystle manages all the accreditation, safety, environment, quality, risk, assurance, and communication functions at ALTRAC. As the key accreditation contact with the Office of the National Rail Safety Regulator (ONRSR), Krystle ensures that the Sydney Light Rail project meets all requirements under its rail accreditation.

As an experienced professional with strong people management and communication skills, she brings an extensive career background to ALTRAC. Prior to joining the team, Krystle was the Health, Safety, Quality and Environment (HSQE) Manager for the Canberra Light Rail project. She also served for eight years at the NSW Police, working in the State Crime Command as a Detective Senior Constable.

Krystle loves being challenged and gains a sense of achievement when she has the opportunity to solve problems.

Today, Krystle is taking on a brand-new endeavour and joins ALTRAC in its uncompromising commitment to Sydney’s light rail safety.


Maria Campos SanchezPartner Representative

Leni is our passionate and well-organised Chief Financial Officer who is primarily responsible for all finances, cash flow and funding opportunities within ALTRAC. As an experienced professional in business finance, she also provides strategic recommendations to our CEO and equity investors, as well as advises on long-term business and financial planning.

Empathetic and always looking at the bigger picture, Leni has driven positive change by engaging others throughout her professional career.

Before working for ALTRAC, she has taken on various finance roles in several corporations across Europe and Australia including Strumica Tabak, United Utilities, Trility and TransGrid.

As an excellent mentor and inspiring manager, Leni takes the time to work with the entire team to achieve goals as a group. In fact, she led the successful refinancing of the debt facilities for the SLR Project in 2021, where 50% of the outstanding senior debt of $1.4B was repaid.

Beyond being a reliable CFO, Leni also advocates for gender equality in the workplace, particularly in leadership roles. She is strong-willed, highly patient and open-minded, a true asset for ALTRAC as we realise a modern vision for Sydney’s transport.

John BowyerPartner Representative

Tom BrooksPartner Representative

Our Executive

Duncan EdghillChief Executive Officer

With a background in construction law and extensive experience as a Board Member for several Corporate and Advisory Boards in the infrastructure and construction industry throughout Australia, Asia and the UK, Penny is an incredibly valuable partner at ALTRAC.

Having worked on large-scale projects with Sydney Motorway, Portsmouth Water UK, Citylink, Sydney Airport, Macquarie Airport Group as well as non-profit groups like CareerSeekers, Penny is always proactive in overseeing all aspects of the project delivery process.

From financing to investment, planning to construction, up to the delivery and operational outcomes of every venture, Penny maintains a hands-on approach, offers her wealth of knowledge and brings everyone along on the journey.

Passionate about holistic urban design delivered and complemented by appropriate and thoughtful infrastructure, Penny joins ALTRAC as a Partner Representative and upholds our commitment to deliver exceptional standards and create a proud legacy of light rail for Sydney.

Leni KarcevaChief Financial Officer

Alister, or Al, is an experienced Asset Director, bringing over 18 years of valuable experience working in corporate and infrastructure finance to ALTRAC.

He has successfully led public-private partnerships (“PPP”) and other infrastructure project bids both in Australia and internationally and has participated as a Project Company Director for several PPP and renewable energy projects over the years.

As a trusted member of the infrastructure industry, Al has been involved in a wide range of high-profile projects including East Rockingham Waste to Energy, Finley and Sunraysia Solar Farms, Queensland New Generation Rollingstock Project, Victorian Desalination Plant PPP Project and the Northern Territory Secure Facilities PPP Project.

As a Partner Representative for the ALTRAC Light Rail Partnership, Al is aligned with our commitment to deliver a world-class light rail service to every resident of Sydney – wherever they may be and wherever they may wish to go.

Dan RaveDirector, Operations and Safety

James represents Acciona Concesiones in the ALTRAC Rail Partnership, offering his extensive experience in the development, delivery, governance, financing and operations of major infrastructure and Public-Private Partnership (PPP) projects globally.

With over 25 years of industry experience, James has held senior roles at John Laing and Transport for New South Wales in Australia, and Macquarie Capital and Multiplex in the United Kingdom before joining Acciona Concesiones in April 2022 as the Head of Concesiones Australia and New Zealand.

James has also been actively involved in several large-scale projects including Regional Rail, Sydney Light Rail, the New Royal Adelaide Hospital, New Generation Rollingstock, North West Rail Link OTS PPP (bid), the Greater Peterborough Health Investment Plan and Irish Schools Bundle 1 & 2 Projects.

Possessing extensive expertise and relevant experience, James is  a valuable partner for ALTRAC in building a better city through the success of Sydney’s Light Rail.

Parissa NotarasDirector, Legal and Commercial

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