A multi-millionaire steam engine enthusiast is interested in taking over the St Rollox Caley works as a Scottish base for his fleet of heritage engines.

The site, in Springburn, owned by industrial property firm Hansteen, has been closed since last year when previous operators Gemini Rail pulled out of Scotland with the loss of 200 jobs.

Previous attempts at securing a buyer for the maintenance depot failed and the Scottish Government refused to agree to union calls to take it over stating it was not possible to do so.

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A long running Rally Roon the Caley campaign by Unite the union was launched in a bid to keep the depot open.

Now, Locomotive Services Ltd, controlled by Jeremy Hosking, a wealthy financier, is understood to be in talks to take on the site.

The firm said it has not purchased the depot, but gave an indication it was in discussions.

Locomotive Services operates Mr Hosking’s fleet of heritage engines and runs steam train trips from its base in Crewe.

It is one of only a few train operating companies running steam engines on Britain’s mainline railways.

It is hoped that if the deal is concluded the site would be a maintenance base for locomotives and keep the railway heritage of the historic Caley site alive.

Locomotive Services refurbish old engines and get them to a standard able to be run on the main railways.

A source said that talks had taken place and it is hoped that there is scope for re-engagement of workers at St Rollox.

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The man behind the company, Jeremy Hoskins, made a fortune through investment fund management.

According to the Sunday Times Rich List he has a net worth of £375m.

He has used some of his wealth to buy steam locomotives and diesel engines.

He also has a stake in the Dartmouth Steam Railway which runs passenger trips on a line on the south coast of England and others on various routes in England.

Locomotive Services Ltd ran its first passenger service on the main railway on a trip from Crewe in north west England to Kingussie in the Highlands two years ago.

Locomotive Services was contacted for comment.