The Scottish Railway Preservation Society operates the Bo'ness & Kinneil Railway, which has been developed since 1979 on a green-field site by the south shore of the Firth of Forth. Several historic buildings have been obtained and re-erected to provide a traditional railway setting. Bo'ness station opened in 1981. The line was extended to Kinneil in 1987 and to Birkhill in 1989. The passenger service now operates to Birkhill, where the fireclay mine is open to the public.
 

Early in 1990 the remaining section of the line was relaid to provide a connection with the BR Edinburgh to Glasgow main line at Manuel, where it is intended that a new station will be constructed. In the meantime this line is used for the movement of locomotives and carriages, and has allowed the SRPS Railtours train to be based at Bo'ness since 1991. It also enables locomotives from other preservation groups to visit the Bo'ness & Kinneil Railway.

Falkirk Council is working with the SRPS to set up the Scottish Railway Museum. The first part of the museum was opened in 1995 as the Scottish Railway Exhibition. The first phase of the planned development can be seen at Bo'ness where the refreshment room of the large new station building opened in 1998. This provides improved facilities for coach parties. In the near future it is planned to extend the passenger service to Manuel. A proposal to extend the line to an interchange with the Union Canal is being investigated.