The Laxey to Ramsey Manx Electric Railway service will operate as normal next year, after Tynwald approved spending nearly £1.3 million on repairs.
Work at Ballure Bridge will begin once the MER season ends on November the second.
It will include replacing corroded metal sections, ineffective rivets and timber-supporting steel beams.
Ramsey MHK Leonard Singer says to lose the service would have been a big blow to retailers in the town and insists the work is long overdue.
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