THE company lined up to take over a stricken tourist railway says it will take a cautious approach if and when trains start running again.

The Ealing Community Transport Group (ECT) is poised to run the Weardale Railway, in County Durham, once a deal has been struck with creditors.

After a troubled year for the Weardale group, administrators have called 104 businesses - collectively owed more than £900,000 - to a meeting on January 27.

Administrator PricewaterhouseCoopers is seeking a Company Voluntary Arrangement paying creditors 25p in the £1.

ECT, which runs the Dartmoor Railway, in Devon, would then be cleared to start up in a few weeks' time, with a 75 per cent share and a fresh board of directors.

Stephen Sears, chief executive of ECT, said: "We are looking forward to getting the deal signed and getting on with the job.

"The sooner we demonstrate some activity, the more people are going to believe that it is going to happen.

"We also have to show everyone involved that we can run it effectively and that means getting the basics right."

After the line closed in December 2004, the railway was criticised for overspending and overstaffing and later admitted it had been naive.

This time, said Mr Sears, any development would take place slowly and sensibly.

He said: "We don't want to make the same mistakes as were made before. The people we have running the line are very experienced in the railway business and we are pretty confident we can make it work.

"With the eco-village planned for Eastgate, the potential for Weardale is phenomenal.

"There are an awful lot of people who live in the big towns and cities of the North-East who will drive up to Weardale for a short holiday. There is a big potential market.