The government has received five expressions of interest for the design, construction and operation of a Motor Recreation and Education Park.
Parliamentary Secretary Chris Agius said he was not in a position to announce the sites recommended by the bidders since the expression of interest submitted have not yet been evaluated.
The bids will be evaluated by a committee before the government decides whether to issue a proposal, a statement this evening said.
Mr Agius said the government was promising that together with the involved stakeholders it would identify a site for a motorsport circuit, possibly in conjunction with the private sector.
He insisted that the government would ensure that every effort would be made to maximise the economic potential of the site selected, especially where job creation is concerned.
The proposal has sparked controversy among many, especially since the government has not excluded that such a circuit would be built in an outside development zone.