Two leisure companies have been shortlisted by Gwynedd council over plans to develop a former quarry site.
Plans from both companies have been described as "exciting"
One proposal involves a mountain bike and business centre and the other a ski slope and water park on the 200-acre Glyn Rhonwy site near Llanberis.
The council has now invited further details from both companies about the timetable for development.
It said the proposals appeared to be "very exciting" and could meet the
council's "vision for the site".
Both proposals for the old quarry had previously been revealed by the companies.
Beicio Llanberis Ltd want to develop the £12m mountain bike centre and a business cluster development by 2008, with a mix of private and European funding.
Snowdonia Gateway Ltd were chosen from an eight-strong list of companies with their plans for a ski slope, family water park and associated facilities.
The company had first launched plans for a £115m snowdome and hotel five years ago but these have now been revised.
In a statement, the council said both companies had met the "brief" set down for developing the site, including creating sustainable employment and safeguarding the culture and Welshness of the area.
Sioned Williams, Gwynedd council's head of economy and regeneration said: "We will be inviting further details from these companies on their schemes for the site in order to carry out detailed assessments of the proposals".
Meetings would be arranged between the council and the companies shortly to confirme arrangements for the next stages.