A Chinese national was one of two people arrested when drugs worth Aus$128 million (US$133 million) were seized in Sydney, Australian police said on Friday.
The bust on Thursday disrupted an international syndicate dealing in methamphetamines, known as ice, and cocaine in the city.
"Operation Fenway resulted in the seizure of approximately 40 kilograms (88 pounds) of ice with a street value of about $128 million, as well as half a kilogram of cocaine and approximately $2.6 million in cash," police said.
Two people were arrested -- a 54-year-old Chinese national and a 47-year-old Australian man -- after they were caught allegedly doing a deal in a public car park.
They were due to face court later Friday charged with supplying large quantities of prohibited drugs.
Assistant Police Commissioner Mal Lanyon said the strike would deal a blow to the illegal ice trade, with the seizure accounting for approximately 1.3 million street deals.
"It is a very significant seizure in terms of the reduction in harm that that can lead to," he said.