First Incorporated on 21st July 1845 as the Waterford and Kilkenny Railway. Re-incorporated in 1868. A line between Waterford and Kilkenny, forming the southern part of the route between Dublin and Waterford. The Kilkenny Junction Railway (proposed as a northerly extension of the W&KR) and the W&KR itself, together proposed a new line, the Central Ireland Railway which only ever extended to Mountmellick. However the company was re-named in 1868 as the Waterford and Central Ireland Railway for this reason. The combined company was sold to the Great Southern and Western Railway in 1896.

Capital in 1871 £446,885 in shares and stock. Loans of £92,123, and debenture stock £62,263.