The Madrid Regional Government has awarded the contract to build, finance and operate the new M-404 motorway in Madrid to Global Via,  which is owned 50/50 by FCC and Caja Madrid - an investment worth 453 million euros.
The concession, under a shadow-toll arrangement, is for 30 years. The building work is scheduled to last 18 months.
The new motorway is part of the ambitious REDSUR project of the Madrid Regional Ministry of Transport and Infrastructures.
The road section awarded is 27 km long, consisting of two two-lane carriageways running from the M-407 in Griñón to the M-307 in Ciempozuelos.

The conversion of the M-404 into a dual-carriageway will improve communications and road safety for the south Madrid region, including the towns of Serranillos, Cubas de la Sagra, Torrejón de Velasco, Torrejón de la Calzada, Griñón and Valdemoro.

The aim of the Project is to increase traffic capacity, eliminate existing bottlenecks, eliminate  level-crossings and turn the motorway into the main road link across south Madrid, crossing the A-42 Toledo road and the A-IV Andalusia motorway to link two of the main access routes into the city. As a result of this Project, one of the Madrid region's fastest-growing areas will be equipped with major modern infrastructures.