Work on the new V&A museum planned for Dundee, Scotland is expected to start in August this year, following the award of a £9.4m Heritage Lottery Fund (HLF) grant. The Scottish Government has already committed £15m to the project and Dundee councillors have also pledged financial support.

The £45m project, featuring a distinctive bow-shaped design jutting into the River Tay, is to be built on the site of the city's former Olympia swimming pool as an anchor for Dundee's £1bn Waterfront regeneration scheme; opening is scheduled for early 2017.

V&A at Dundee - designed by Japanese architects Kengo Kuma & Associates in partnership with Scottish practice Cre8architecture - will have more than 1,700sq m (18,300sq ft) of flexible gallery space, with one of the largest dedicated museum-standard exhibition spaces in Scotland.

There will be four galleries, hosting world-class design exhibitions organised with the V&A and other national and international partners alongside displays devoted to outstanding Scottish design - historical, contemporary and of the future.

The whole scheme is being driven by Design Dundee Ltd (DDL), DDL being a partnership between the V&A, the University of Dundee, the University of Abertay Dundee, Dundee City Council and Scottish Enterprise.

According to local media, a shortlist of four companies has been drawn up from a number of submissions to tender for the construction of the museum, although these have not yet been named.

Of the HLF award, Philip Long, director of V&A at Dundee, said it was a "massive vote of ­confidence", while Dame Seona Reid, deputy chair of the HLF, commented: "The [award] brings HLF's investment in Scottish museums and art galleries to over £177m.

"This new world-class museum is an exciting addition to the sector, providing a source of education and delight for visitors, while making a transformational contribution to the cultural, social and economic regeneration of the city."

Secretary of State for Scotland, Alistair Carmichael added: "This is great news for Dundee and the whole of Scotland. I look forward to seeing the excellence of Scottish design both past and present showcased in a world-class museum that will inspire generations to come."