The Llangollen railway hit the buffers when its public limited company went into administration with debts of £350,000.
Llangollen Railway Trust, which has remained solvent, is now hoping to see trains running again later in the summer.
Ken Skates the member of the Senedd for Clwyd South, said: "This week I have written to the Economy Minister, Vaughan Gething, to ask how the Welsh Government can support local efforts to get Llangollen Railway back up and running.
"It is one of numerous tourism businesses in Clwyd South to have been awarded Welsh Government funding in the past."
Mr Skates said that, during a visit to Llangollen in April, First Minister Mark Drakeford said he wanted to work with local people to come up with a plan that would allow us to be part of the help they will need to get the railway back up and running.