A consortium led by ICA Fluor won a $268 million contract to build a cryogenic natural gas processing plant in Mexico, said state oil company Petroleos Mexicanos on Tuesday.

The plant will take two years to build and process 200 million cubic feet of gas coming from Pemex's natural gas fields in the Poza Rica area of northern Mexico.

ICA Fluor is a joint venture of Mexico's Empresas ICA (ICA) and Fluor Corp (FLR). Linde Process Plants was also part of the winning consortium, said Pemex.

The plant will separate products such as propane and butane from natural gas.

-By Peter Millard, Dow Jones Newswires; 5255-5001-5724; peter.millard@dowjones.com