The names of the two chosen firms haven’t yet been made public.
“The committee will address the lead consultant to obtain its clearance and once received, the names of the two selected firms will be officially disclosed,” said a statement released by officials following the meeting.
Egyptian irrigation minister Hossam Moghazi told reporters that the meeting was successful.
He added the three countries reached agreement to select the two firms after separately evaluating proposals of the firms.
The $4.2 billion power plant has become a source of dispute between Ethiopia and Egypt.
Egypt considers the construction of the massive dam as a major threat to its water security as the desert North African nation fears that the massive dam with 74 billion cubic meter reservoir will eventually diminish its water share.
Cairo says the Nile River is the only water source for its over 90 million people and insists its historic water rights are maintained.
However, other upper riparian countries led by Ethiopia, which is the source of 85% of the water resource are joined to reverse the colonial era treaty, demanding a fair and equitable share.
Upon completion, the dam, which would be Africa’s largest, will have capacity of generating 6,000 megawatts of electricity, making the country a major regional power hub and further enabling it to sell electricity to more countries, including to Egypt.
The construction of the dam project slated for completion in 2017 is currently 42% completed