The Lachlan Valley Railway was formed in 1974 initially to operate locomotive 5917 (not owned by the LVR but a group called the 59 syndicate) and four carriages.

[2] Initially allocated a couple of roads, in 1985 it took over the entire facility when the State Rail Authority vacated it.

[5] In November 1983, the LVR purchased its first diesel locomotive, 4204, and shortly afterwards Australian Iron & Steel shunter D9.

[9] In August 1994 the LVR operated wheat trains from Trajere on the Eugowra line to Cowra with 47 class locomotives.

[10] In June 1999, Lachlan Valley Rail Freight commenced operating trip working services between Port Botany and the Cooks River container terminal in Sydney using 47 class locomotives and former Australian National wagons.

[13][14] In October 2006, the company was sold to Stephen Heraghty of Bowport Allroads Transport and rebranded as Independent Railways of Australia.

Since then it has operated steam and diesel trains in other parts of the state; however, those still in Cowra have remained "landlocked" and have had to be moved when needed by road transport.