DESPITE the 'doom and gloom' of the current world economic turmoil the new owners of the Dartmoor Railway line this week assured the people of West Devon that 'nothing so far has happened for it to derail its plans for the line'.
With financial markets on both sides of the Atlantic in a state of uncertainty, any concerns that an American company investing in the line would reconsider its support have proved unfounded.
Iowa Pacific Holdings, the Chicago-based company, which has just taken over the line from Ealing Community Transport, is still full steam ahead for its new plans for the Dartmoor Railway.
Last week, an indication that Iowa Pacific is serious in its intent in UK investments was boosted with the confirmation of its backing for a similar project in the north east of England.
Iowa Pacific is investing £800,000 in the Weardale Railway tourist line in Co Durham, through a new company, British American Services Ltd.
Christopher Roper, an investor in the English branch of Iowa Pacific, said: 'Nothing has changed at all. As far as anyone can be sure of anything there is nothing that has happened to derail our plans for Dartmoor Railway. The economic situation is not a contingent factor as we do not depend on bank loans.'
'I met with Ed Ellis (the Iowa Pacific president) for two days last week and I know his opiinion has not changed at all. He regards this as a long term investment.'
Mr Roper said the company was talking fo all the stakeholders, including Aggregate Industries, which maintains a railway ballast quarry at the head of the line, First Great Western, West Devon Borough Council and Devon County Council.
'Discussions are going on. We are also looking to provide passenger trains to Exeter seven days a week but these things cannot be done overnight or by waving a magic wand.'
The company is also applying for a network licence to operate on the main lines.
Mr Ellis is due to return to West Devon next month for the next round of discussions concerning Dartmoor Railway's future.
West Devon Borough Councillor Christine Marsh, who represents Okehampton East, said she met Mr Ellis at the weekend to discuss his ideas.
She told the Times: 'I am very much for it and I am working closely with the local authorities to get support for him.
'It is an exciting time for Okehampton and if we are going to develop a sustainable railway for the line it has to be now.'
Mr Roper confirmed that all the stakeholders have all been helpful and he remains quite confident that they can turn the line into a passenger and freight success.
'We are under promising and hope to over perform,' said Mr Roper.
'I see no reason why this story should not have a happy ending.'