Amtrak said it would seek money from last year's congressional infrastructure law for the study.
"This application is the first step in determining the feasibility of this concept and the benefits and challenges, including federal funding commitments, of expanding Amtrak service to the I-20 route," Amtrak Network Development Vice President Nicole Bucich said in a statement.
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Amtrak and the Southern Rail Commission are seeking federal funds to study a Mississippi-to-Texas I-20 train route.
The Canadian Pacific Railway is in the process of buying the Kansas City Southern Railway, which partly owns tracks between Meridian and Shreveport. The new owner has agreed on the study with Amtrak, although co-owner Norfolk Southern Railway would also have to approve. If the study found service was warranted, Amtrak would then seek federal money to pay for startup costs.
"This has the potential to be the first new Amtrak service of its kind in more than 25 years and it would come in an area that has long been underserved by passenger rail," Southern Rail Commission Chairman Knox Ross said in a statement.
The Amtrak agreement would also allow for service between New Orleans and Baton Rouge, Louisiana. The passenger railroad is in the final stages of planning another new route between New Orleans and Mobile, Alabama.