The North Pembrokeshire and Fishguard Railway was a railway company in south-west Wales, incorporated to extend the moribund Narberth Road and Maenclochog Railway, with a view to developing a port on Fishguard Bay and ferry services to Rosslare in Ireland.
The Narberth Road and Maenclochog Railway had been opened in 1876 to connect slate quarries at Rosebush with the main line of the Great Western Railway; it also carried passengers and general merchandise, and the line had an exceptionally steep gradient. The line was not profitable and closed in 1882.
The North Pembrokeshire and Fishguard Railway was promoted in 1884, planned to build from Rosebush to Goodwick, on Fishguard Bay. At this time the Great Western Railway operated a ferry service to Ireland from Neyland (New Milford) and the NP&FR boldly sought to challenge this with a shorter crossing to Rosslare. The proprietors were to improve the harbour at Rosslare as well, and planned to work collaboratively with the Narberth Road line.
The steep gradients and sharp curves on that line would have made the through route exceptionally difficult, but another company, the Fishguard and Rosslare Railway and Harbour Company was incorporated in 1893 and bought out the smaller lines, and extended to a station at Fishguard Harbour. In addition the F&RR&H took over a considerable extent of railway in Ireland based in Rosslare. The Great Western Railway built a better-aligned route to Fishguard, opened fully in 1906 when the ferry service transferred to Fishguard. The new line bypassed the Rosebush railways, which reverted to the status of local rural lines, and they declined and were closed in 1937.