You can't use the definite article. It doesn't change the meaning -- it's just incorrect. You could say:
The railway station will be restored during the next year.
This would mean that the station will be restored within the 12 months after the statement was made. So if the statement was made in April 2007, you might assume that the station would be finished by April 2008.
The railway station will be restored next year.
If this statement was made in April 2007, you would assume that the restoration will take place at some time in 2008, and hopefully will be finished before 2009.