Indeed it was, it can be watched in part here:
I was involved with the railway from 1994, before it reopened, for many years after. Some of the line is now lost - the branch to Stable Hill - for example, but there has been many improvements since.
The IMechE Challenge is always a good event and the new turntable and servicing facilities are going to be superb when finished. Its worth a trip to see on the public viewing day on the Sunday