The Iwate Development Railway (岩手開発鉄道, Iwate Kaihatsu Tetsudō) is a freight railway company in Ōfunato, Iwate, Japan. This is one of the oldest third sector (half public, half private) railway operator in the country, founded in 1932. Its group also operates bus lines. It also had a passenger service until 1992. The line mainly transports limestones from the mine to Taiheiyō Cement Ōfunato Factory.