Council chiefs have hailed one of the jewels in the crown of the Tay Cities Deal project.
The leaders of Fife, Angus, Perth and Kinross and Dundee City councils toured the flagship project at the former Guardbridge paper mill.
Earlier this year the University of St Andrews launched a £24 million bid to further develop the Eden Campus site as part of the Tay Cities Deal package.
Developers say the project could create 500 jobs.
St Andrews has already spent £25m on developing a green energy centre which pumps hot water four miles to heat 43 university buildings at the main St Andrews site and 2,600 student rooms.
More than 350 university staff could relocate to the Eden campus.
The Cities Deal investment would permit the redevelopment of more derelict buildings to form a central hub for innovation and for the growing number of scientists and technologists in highly skilled jobs.
Fife Council co-leader David Ross said: “I am very pleased that this ambitious project to further develop the Eden Campus forms a central part of the Tay Cities Deal.
“The new infrastructure would not only regenerate this site, but also enable the development of new technologies to meet the challenges of tomorrow’s world.”
Fife councillor Karen Marjoram, Tay Cities joint committee member, added: “This, along with other Fife proposals within the Tay Cities Deal, will enable the region to become even more attractive for inward investment and accelerated economic growth.”
Dundee City Council leader John Alexander, said that at the heart of the Tay Cities Deal was an ambition to transform the economy, create jobs and opportunities, reduce poverty, create a fairer society and, ultimately, build a region fit for the 21st Century.
Angus Council leader Bob Myles, added: “The realisation of projects like this, which complement those being proposed across the whole area, will stimulate our economy and revitalise our communities, offering new opportunities for our workforce of the future.”
Derek Watson, the University’s Quaestor and Factor, added: “Our plans for Eden Campus are ambitious but with help from our partners in the Tay Cities region and government support we believe we can make a genuine contribution to the government’s strategic objectives and society as a whole.”