A planning application got the green light in August and the station was to be completed by April 2009 on former Royal Ordnance Factory land, between Dawson Lane and Euxton Lane.

But Chorley Council's original £4m estimate has been exceeded because of growing costs, and bosses are trying to get funding to make up for a £2m shortfall.

The station will include a park-and-ride facility with parking spaces for 300 cars – an estimated 450,000 people a year will use it and it will be connected to the West Coast Main Line.

Residents had hoped the project would be completed this year and fear a further delay would have a negative impact on transport and traffic in the area.

Colin Yates, of Durham Drive, Buckshaw Village, said: "I'd like to know who's paying for this because £2m seems a lot – I hope it's not on taxpayers' expense.

"The train station is much-needed because a lot of people who live here work in Preston or Manchester.

"We would see less cars on the road and it would be a big benefit for the area."

He added: "There are a lot of people who use the buses at the moment to get to Chorley station or to Preston – we need it built sooner rather than later.

"The development at Buckshaw Village is not even finished yet and we need to have a train station because it would improve transport in the area."

The plans have been in the pipeline for several years and the station was originally going to be completed by December this year, but the date was pushed back to 2009.

The majority of funding for the station was to come from BAE Systems as part of an agreement with Chorley Council in the 2002 outline permission for Buckshaw Village, but the council is looking for external funding.

Jane Meek, Chorley Council's corporate director (business), said: "There is a shortfall in the funding for Buckshaw Railway Station and the council is working closely with a number of partner agencies to bridge that gap."

A spokesman for Network Rail said: "There is a shortfall of around £2m but the scheme is by no means dead. We are very confident we will go ahead as planned and there is no indication that there will be a delay."