THE future of Dartmoor Railway has been saved, following an announcement of a change in ownership.
Services at Dartmoor Railway were suspended in April this year after its owners, Ealing Community Transport, announced they were seeking new owners for their rail investments and could no longer provide the necessary management focus and investment the railway needed.
However, ECT announced last week that their rail holdings have now been transferred to British American Railway Services Ltd, a new company established in the UK by American rail company, Iowa Pacific Holdings.
The owners of Iowa Pacific Holdings were in Okehampton last Saturday to hold a meeting with Dartmoor Railway.
Okehampton county councillor, Christine Marsh, who was at the meeting, said: 'It will be brilliant, it really, really will. It's terrific and just what Okehampton needs — this is a golden opportunity.
'It was a very interesting meeting. They're looking at increasing the freight side of the railway initially but will be looking at the passenger side too and, talking long term, relaying the track across Meldon Viaduct.
'They are used to managing railways from a distance and it's great to think that somebody who is interested in making the railway a success has bought it.
'If we can get the freight going, the passenger service will follow — to have one you need the other.'
Dave Payne, health and safety manager at Dartmoor Railway, also welcomed the news.
He said: 'We're extremely pleased to welcome them. These people are well experienced rail people — they're tried, tested and run similar railways in the States.
'It's an extremely good thing and we have a lot of confidence in them.'
Iowa Pacific, primarily based out of Chicago, is a privately owned company that owns and operates six short line railways in America with more than 700 miles of track, 180 employees and a current annual turnover in excess of US$40 million.
They handle more than 35,000 freight carloads and 75,000 annual passenger trips in six states and operate first-class mainline passenger tours.
Iowa Pacific's initial aim is to increase freight and take more stone from Meldon Quarry without clogging up the roads.
They have had success stories with all six different lines they own in America that were in similar states to Dartmoor Railway when Iowa Pacific acquired them.
According to ECT, they are an organisation who support the value of community rail and have the skills and resources to provide them with a sustainable future.
Iowa Pacific president, Ed Ellis, said: 'We believe in the community rail model and look forward to developing freight, tourist and passenger services on the two railways and to sustained, profitable growth in the services.
'The experienced staff in both the UK and US will be able to add value in all locations.
'In addition we are excited about the support from other stakeholders who are making it a vital attraction in the community.'
Christopher Roper, an investor in the English branch of Iowa Pacific, added: 'These are very long term railway people with backgrounds in railway roles.
'The long term is to make Dartmoor Railway sustainable. Obviously, we would like to increase the number of trains but this will need local support.
'Iowa Pacific are constantly looking for situations that play to their strengths.
'The railway will develop and it will be done as a proper and professional operation.
'It will be run as a local operation because local railways need local people to run them.'