Canberra police have seized a record 28 kilograms of suspected methamphetamine hidden in a car in Curtin on Thursday afternoon.
ACT Policing allege the drugs were destined for the Victorian market and had a street value of $26 million - or 280,000 street deals - and had an estimated purity of 80 per cent.
In the largest haul in the territory's history, the drugs were seized at 1.30pm when police searched a Volkswagen Passat after a 51-year-old man left an address in Curtin.
ACT Drug and Organised Crime team leader Detective Sergeant Shane Scott said the methamphetamine had been found in the boot and front of the vehicle.
"Upon inspection of the boot of the vehicle there were two locations with access panels [...] and as a result we located a quantity on either side of the vehicle and some hidden in the front of the vehicle as well," he said.
"This investigation has been ongoing for 12 months and it is a targeted operation and we had some intelligence to support our actions yesterday."
Later on Friday in court, police said Alexander Scott Hagan, 51, was involved in the transporting and trafficking of the drugs from the ACT to another location.
Hagan, of Curtin, did not apply for bail when he appeared before the ACT Magistrates Court on a charge of trafficking in a large commercial quantity of methamphetamine. He did not enter a plea and was remanded to reappear in court next week.
During the earlier press conference, Detective Sergeant Scott said it was likely more people were involved in the drugs syndicate and further arrests might follow in coming days.
"The investigation is ongoing at this point in time and we have a number of other inquires and matters that we need to chase up but we do believe there will be further arrests in relation to this," he said.
Acting Deputy Chief Police Officer Paul Shakeshaft said ACT police had liaised with a number of jurisdictions during the investigation and police would continue to collaborate as investigations continue.
Officers also raided five properties in search of drugs on Thursday night and found another kilogram of methamphetamine, 500 tablets of suspected MDMA and an amount of cash at a premises in Curtin.
"We also seized a small amount of steroids from an premises in Holder and a premises in Lyons," he said.
"This is a culmination of our commitment to prosecuting and pursuing offenders in this type of businesses."
Detective Sergeant Shane Scott said police would continue to search for others involved in the largest drug bust in ACT history.
"We won't leave any stone unturned in prosecuting offenders that may be involved in this syndicate," he said.
Detective Sergeant Shane Scott said the estimated saving to the Australian community through the drug harm index was more than $5 million, including associated medical costs.
"This is a highly addictive drug that causes great grief to users and those around them," he said.
Detective Sergeant Scott urged Canberrans to contact police if they had any information related to the drug trade, even if it was just a nagging suspicion.
"That little bt of information could be the key to another bust like this," he said.
"In all our investigations a piece of information generally comes from the ACT public giving some sort of investigation or tip on where we need to go an look at."
This latest drug bust follows raids in Goulburn earlier this week which saw 19 people arrested and more than 150 charges laid.
In August, police found 2.5 tonnes of chemicals in a clandestine Hume drug lab that was capable of producing "many, many millions of dollars" worth of ecstasy.