A committee comprising transport and local authority officials has recommended the reopening of the rail line between Dublin and Dunboyne, Co Meath.
It is estimated that the re-introduction of the service would cost €156m.
While the move has been welcomed, there have been calls for it to be extended to Navan.
The recommendation follows a feasibility study involving Iarnród Éireann and the Dublin Transportation Office as well as Meath and Fingal County Councils.
The conclusion is that the line would be economically viable, and Iarnród Éireann believes it could be completed in five years.
The proposal has the support of the board of Iarnród Éireann and will be forwarded to Transport Minister Martin Cullen for Cabinet approval.
