The study was carried out for North Somerset Council by infrastructure development experts Halcrow and shows the railway could be viable with no show stoppers.

Frustrated commuters who sit in traffic for hours at peak times every day are among those who have been campaigning to re-open the old railway line in an attempt to alleviate some of the congestion problems experienced in a town described by Woodspring MP Liam Fox as 'the biggest cul-de-sac in the country'.

The study looked at several different options based on one train per hour between Portishead and Bristol Temple Meads.

It also evaluated the cost of building the necessary infrastructure including a new station for Portishead, west of Quays Avenue, and re-laying track between the town centre and the existing Portbury Dock spur.

Detailed calculations show that building the infrastructure is likely to cost £7.5-£15 million, while annual operating costs would be £1.6-£2.4million.

Identifying the funding for the infrastructure and an operating subsidy is now being investigated.

Cllr Elfan Ap Rees, North Somerset Council's deputy leader with responsibility for transport, said: "Investigating a Portishead rail link was one of the priorities the new Conservative administration set itself when we took over last year and I am delighted that this report shows that the idea is not only feasible but would positively contribute to reducing road traffic on the A369 through to the M5 junction 19 and have economic benefits, too for the town.

"We hope now that the Government will support the plan and help us find the funding needed to bring this to fruition, either through the Transport Innovation Fund process or, if that should prove unworkable for some reason, through alternative transport bids."

If the railway does not re-open, it is believed Portishead will be the largest town in the country without a rail link when the current house building programme is complete.