Montrose Port Authority (MPA) is working on a bid to reopen the Montrose railhead as part of the Tay Cities Deal.
It has joined forces with Angus Council, Network Rail, logistics expert DB Schenker and port stakeholders on the venture.
The Tay Cities Deal would see £400 million handed to support economic growth in Tayside and Fife.
Dundee, Perth and Kinross, Angus and Fife councils are working together on proposals with interested parties for how the money should be spent.
The Tay bid is to be finalised for submission to the UK Government next year.
Nik Scott-Gray, MPA chief executive, said the redevelopment of the old redundant eight acre railhead site at Montrose would deliver the opportunity to transform the port into a versatile multi-modal hub covering road, rail and sea.
The railhead could be used for the transportation of a wide range of cargoes currently handled at the port, including agricultural produce.
He said: “The old disused railhead, which was last used for the transportation of agricultural lime, is still in relatively good condition and has the potential to be easily developed.
“The redevelopment of the site would also link into the Scottish Government’s plan for supporting rail.
“A new railhead would stimulate the local economy, turning Montrose into a modern cargo handling centre for this part of Scotland and creating new jobs in the process.
“Such a development would also deliver tangible environmental benefits that would help meet national carbon emission targets.”
MPA has invested around £15m in the port since 2011, including major upgrades to quays on both the north and south sides of the harbour.
The port has successfully combined general cargo and offshore energy operations, giving greater flexibility to customers and ensuring a broad spectrum of support services within the harbour area.
