The track, which at one time was part of the Chesterfield to Lincoln line, is already in place and is part of the branch to High Marnham which is used by Network Rail for testing purposes.
The area is in what was the Nottinghamshire coalfields and suffered a period of economic decline after most of the pits closed. The last remaining deep mine, Thoresby Colliery, closed earlier this year.
On 14th September the D2N2 Local Enterprise Partnership agreed to submit a proposal to the Government for a new Enterprise Zone along the Robin Hood Line corridor, including two sites linked to the proposed new branch line to Edwinstowe and Ollerton.
This follows the announcement by the Chancellor in his Summer 2015 Budget that the Government would be prepared to at least part fund the capital costs of extending the services. Nottinghamshire County Council is currently carrying out feasibility studies on the extension of these services to Ollerton. The studies will form the basis for a business case and funding application to be submitted to the Government.
Christine Ford, Chair of the Ollerton and District Economic Forum Transport Action Team, and a Railfuture member, said "This is excellent news. It is another step towards the regeneration of this sadly neglected area of the North East Midlands, the home of Robin Hood and Sherwood Forest".
Nottinghamshire County Council press release
Nottingham Post press coverage
Video of the route taken from a charter train in 2013: