The fiirm is submitting a Strategic Outline Business Case to The Department for Transport, asking for for an £18 million investment to improve journey times.
A report titled 'All change: The Castle Line', details proposals to make train travel more attractive, reduce car dependence and benefit the local economies.
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Currently just 10 per cent of journeys between Nottingham and Lincoln are taken by rail, but if these plans get the go ahead, trains will increase from predominantly 50mph to 75mph throughout the route.
CEO of Midlands Connect, Maria Machancoses, said: "This is an important connection between two major urban areas, and our plans for investment represent the first step in encouraging more passengers to use the trains.
"We recognise the need to make train travel more attractive and help people transition to sustainable transport.
"Our purposal is to create a fairer, greener and stronger Midlands. Faster connections between our towns and cities will bring a boost to the area for all the residents, businesses and visitors."
