Incorporated on 28th July 1873
A standard gauge line running 22 miles linking the Corwen and Bala Railway to Ffestiniog. It was subscribed to by the Great Western (£200,000), the Corwen and Bala (£24,000), the Llangollen and Corwen (£20,000) and the Vale of Llangollen (£12,000) companies. Opened in November 1882 (and capital was increased by a further £64,000) after merging with the Festiniog and Blaenau Railway in 1880. The line was taken over by the Great Western in 1910.
Original capital £190,000 in shares of £10 each, and loans of £63,300. Increased in 1882 by £48,000 and loans £16,000 and increased again in 1884 by £50,000 and loans £16,600. Total Capital £288,000.