Carillion and the Horizon consortium featuring Interserve, John Laing and Spanish contractor FCC will now fight it out for the job.
Both bidders spent 14 weeks between February and May working with medical staff to refine their designs as a team featuring Balfour Beatty fell by the wayside after Brookfield was dropped previously.
Judith Greensmith, chair and design champion, said: “We are very excited to have reached another milestone on the journey to the new Royal.
“We chose these bidders because we felt they offered the best overall proposal for the new Royal. We want to make sure that the new hospital allows us to offer 21st century care for our patients, in a building that our city can be proud of.
“We have worked with staff and patients during this process – looking at everything from where we locate departments to ensuring that people can find their way round.
“We are really looking forward to working with Carillion and Horizon over the next few months as we choose our final bidder. ”
The final phase of the competition is now underway and the winning design and company will be announced in spring 2012.
Subject to NHS and Department of Health approval and planning permission, the contract for the new hospital will be signed and work will start on site in early 2013.