GWSRGloucestershire Warwickshire Steam Railway (UK)
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Chris Bristow, GWSR finance director, said the work will restore part of Britain's railway heritage and boost tourism.
Alan Bielby, chairman of GWSR Plc, said: "This has been one of the biggest engineering tasks the railway has faced.
Also known as the Honeybourne Line, the GWSR comprises 10 miles (16km) of the 15 miles (24km) between Cheltenham in Gloucestershire and Broadway in Worcestershire which was originally closed by British Rail in 1976.
Dame Janet Trotter presents the award to GWSR volunteers |
Mr Waterman, the GWSR president, said getting the line's full length reinstated was vital "not just for the future of the railway, which has been steadily been rebuilt by its entirely volunteer workforce over the past 30 years, but for the local tourist economy as well".