Ynys Môn MP Virginia Crosbie expects to hear news soon about the £50,000 bid she submitted to the Department for Transport for a feasibility study on the disused Amlwch to Gaerwen railway line.
The bid, which went to the UK Government’s Restoring Your Railways Ideas Fund in March is currently being reviewed with an announcement due soon.
The Welsh government has committed to match funding the £50,000, if the bid is successful.
The bid, which was put together by a group including Transport for Wales, Menter Môn and Isle of Anglesey County Council, proposes a study into how the line could be put back into use.
The options could include restoring it as a railway, using some form of light rail alternative or developing it into a cycle and walking path.
“This line is a major island resource which could be used to boost transport links to our communities and promote tourism,” said the MP.
“My meetings with Transport Ministers Rt Hon Grant Shapps MP and Chris Heaton-Harris MP about the project have been very positive and I hope to receive good news for Anglesey very soon.
“Once the funding is secured, together with Transport for Wales, we will be able to undertake a thorough study in how we can revitalise this great community asset.”