The huge structure — which is expected to be up to 60ft high — would be built in East Lothian, where it would be clearly visible from the A1 and the East Coast rail line between Berwick and Edinburgh.

It is hoped that the “gateway feature” close to the border would become an icon of the Scottish landscape in the same way that the Angel of the North has become synonymous with Tyneside.

The famous sculpture in the north of England, which is perched on a panoramic hilltop site at the head of the Team Valley, is seen by more than 90,000 motorists each day and visited by about 150,000 people each year.

The Scottish structure, which would be built at a farm near Torness, would be similar in scale to Antony Gormley’s creation and could be inspired by a well-known Scot connected with the area.

Robert Burns, who visited the farm in 1787, and John Muir, the “father of geology”, who was born in the area, are both possible candidates.

The sculpture would be sympathetic to the landscape and might also be influenced by the imposing Torness nuclear power station nearby.

Several artists, including George Wylie, the sculptor, Ian Hamilton Finlay, the artist, and Doug Cocker and Rose Frain, the environmental artists, are working on ideas for the sculpture.

The project is being spearheaded by Richard Demarco, the Scottish artist and impresario, who has earmarked a site in a field adjoining his new gallery, which is being built at Skateraw farm.

“The Angel of the North only indicates that you’ve reached the north of England. We need a symbol on that scale that indicates we’ve arrived in Scotland — an angel of the true north,” said Demarco.

“The ‘Welcome to Scotland’ sign is really pathetic, it should be the equivalent of a huge archway welcoming people to the land of the Northern Lights. It would be significant in terms of the landscape and the material used should reflect that.”

James Thomson, owner of Edinburgh’s Prestonfield House hotel, is to host a dinner in May to celebrate Demarco’s 75th birthday and raise money for the venture. However, John Watson, a seed merchant and owner of Skateraw farm, said he hoped that the landmark sculpture would also receive public funding.

“This is something that would involve a big commission. We would be looking to get support from the executive, the tourist board or Arts Council to see what help they could give,” he said.

East Lothian council said: “We are extremely receptive to these exciting new ideas that will attract people to East Lothian.”

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