Work is expected to commence late next year and should be complete by 2017.
The project is of a similar scale to the completion of the M74 motorway, which supported 900 construction jobs.
Four consortia have been selected to bid for the work - Scotia Roads Group, Scottish Roads Partnership, Connect Roads and Caledonia Roads Group.
Infrastructure and Capital Investment Secretary Alex Neil said he was "delighted to see such strong interest in this project from a host of world-class contractors".
He added: "Strong competition can only be good news for the taxpayer and we also know from our experience on our recent, successful M74 completion and M80 projects, this kind of infrastructure project will undoubtedly boost the local and Scottish economy, supporting hundreds of local construction and supplier jobs."