The project, which has been under discussion between for more than 18 months, has already secured the backing of the Scottish Government, the city council and Dundee University.
A deal has been secured with the two owners of the site – National Grid and SGN – after completion of a six-month feasibility study into the project, which is predicted to have a potential economic spin-off for the city of more than £27 million a year.
Up to 500 jobs are expected to be created – 200 directly and 300 as a result of the attraction opening, which could happen as early as 2024.
A series of walled gardens is planned to be created at the brick-walled site on East Dock Street, which would become the “eastern anchor” of Dundee’s £1 billion waterfront regeneration. Other “embassies” could be created around the city.
Eden Project Dundee is planned to have nine themes – Healers, Growers, Navigators, Myth-Makers, Noticers, Alchemists, Celebrators, Menders and Re-Sourcerors – inspired by the city’s historic trades.
Visitors will be able to explore connections between the human race and the natural world, a zone showcasing new was to grow plants, and learn about alternatives to mining.
David Harland, chief executive of Eden Project International, said: “This is a really exciting moment for the Eden Project and the city of Dundee.
“The former gasworks site is by far the best location for our Scottish home and we’re delighted to have a formal agreement in place to start working on a detailed plan.”
First Minister Nicola Sturgeon said: “The dramatic transformation of Dundee’s waterfront continues apace with this fantastic news. The plans and illustrations for the preferred site look nothing short of stunning.
“Alongside the iconic V&A, Eden is another game-changing draw to the city and the surrounding area and will play a key role in Dundee’s strategic economic recovery from Covid.
“The regeneration of an old gasworks into a stunning garden of Eden is visionary and should be held up as an inspiration to what can be achieved as Scotland begins the process of building back better from the pandemic.”
Council leader John Alexander said: “Completing the feasibility study and identifying the preferred site are another two important milestones on our journey to bringing Eden to Dundee.
“It truly is an incredible project, which will wow city residents and visitors alike. What Eden has envisaged is the transformation of an industrial site into a world-class attraction with a focus on the environment and sustainability.
“Eden Project Dundee is another opportunity to put Dundee on the map and show how well our city works with internationally-renowned partners.
“This project will deliver on so much of what we all want for the city – from creating hundreds of jobs and bringing millions annually into the local economy to delivering opportunities for education and connecting our diverse communities.
“It will be another jewel in the crown of our stunning, transformed waterfront area.”