The Dundee area needs investment of almost £1.64 billion over the next five years to fulfil its economic growth.
A city region plan has been drawn up with a list of 10 major infrastructure projects, ranging from Dundee’s Western Gateway to the St Andrews West extension.
Public funding worth £352 million has already been secured, but the projects need much more.
Detailed calculations have produced a figure of £1.286bn as the total being sought from the private sector for the objectives to be met.
Dundee council leader Ken Guild said they and partners are investing significant sums of money in the city through developments like the waterfront project.
“We are focused on creating new opportunities for people and communities throughout Dundee and we are using this transformation to appeal to outside investors,” he said.
“We have made real progress to date and everyone involved is committed to continuing their efforts for the good of the city in years to come.”
The investment plan highlights the area’s prime location and status and a thriving regional centre with a population of 300,000 within a 30-minute drive.
The city’s growth and investment strategy is based on growing business and sectors; employability and skills; physical infrastructure, and marketing and tourism promotion.
The £1.638bn package is part of a £6bn economic growth strategy by the Scottish Cities Alliance representing the Scottish Government and Scotland’s cities.
Speaking ahead of the Scottish Council for Development and Industry forum today, alliance director Stewart Carruth said: “This is the first time that Scotland’s cities have been able to present a coherent, complementary and ambitious investment pipeline which has the capacity to deliver a step change in Scotland’s medium-term growth prospects.
“The cities, Scottish Government and national agencies will develop this prospectus for cities which will deliver much needed economic infrastructure in Scotland.”