Incorporated on 21st July 1845. A line between Waterford and Kilkenny, forming the southern part of the route between Dublin and Waterford. Opened in 1848, the company, together with the Kilkenny Junction Railway (which it later absorbed), proposed a new line in 1866, the Central Ireland Railway, and so it was re-named the Waterford and Central Ireland Railway. The combined company passed to the Great Southern of Ireland Railway in 1896.

Original capital £250,000 in £20 shares. Further capital £120,000 in shares in 1848. £200,000 in preference shares raised in 1851. Loans of £149,000.