The Columbus, Piqua and Indiana Railroad was chartered in Ohio on February 23, 1849, to build from Columbus west via Urbana, Piqua and Greenville to the Indiana state line. On March 21, 1851, the CP&I was authorized to change the route west of Covington, and a more northerly alignment was chosen to meet the Indianapolis and Bellefontaine Railroad at Union City, Indiana for access to Indianapolis. The first section, from Columbus west to Plain City, opened June 6, 1853. Extensions opened to Urbana September 19 and Piqua October 16, 1854; on the latter date it changed its track gauge to Ohio gauge () to connect with the Indianapolis and Bellefontaine, which had also re-gauged. The rest of the line to Union City opened March 25, 1859, after some financial problems. The CP&I was sold at foreclosure on August 6, 1863, and reorganized October 30 as the Columbus and Indianapolis Railroad.