The State Government has received expressions of interest from four groups to build the first stage of the East West Link.
The bidders had until this afternoon to make a formal submission.
The Treasurer Michael O'Brien says a shortlist of up to three bidders will be determined by early October and they will have to put in tenders by the end of that month.
The Government did not release a full list of the firms, but Mr O'Brien says local and international companies are represented.
"Companies such as Leightons, companies such as Lend Lease, the spanish building giant Cintra, companies such as Acciona," he said.
"Some of the biggest companies in the world, some of the biggest companies in Australia all vying to be part of making East West Link a reality."
Parkville apartment purchasers affected by the project could learn the details of a proposed compensation package within days.
The Evo building on Manningham Street is still under construction, but detailed plans show it will be surrounded be freeway off-ramps at the western end of the project.
A large proportion of the 175 apartments in the building were bought off-the-plan and the Linking Melbourne Authority has been considering compensation options for the purchasers.
The Authority's Ken Mathers says he hopes to end the uncertainty soon.
"Shortly we'll be putting a proposal to the government about how we manage the ongoing relationship with the people who've bought units in the Evo apartments and we expect that decision very soon," he said.