Police have arrested a man after finding more than 2kg of cocaine, which they say is worth almost $1 million, in Queanbeyan earlier this year.
The 28-year-old Goulburn man was arrested at Queanbeyn police station on Friday morning, and expected to face court later in the day.
NSW police said they found the cocaine while searching a storage complex on Aurora Avenue on April 3. They estimated it had a potential street value of $900,000.
They also found caffeine and Inositol, which the believed was being used to extend the cocaine, along with drug paraphernalia.
The seizure was a part of a joint operation between ACT Policing and NSW police investigating large scale drug supply in Canberra and Queanbeyan.
NSW police's Southern Region Enforcement Squad set up Strike Force Rogal to investigate the cocaine and its potential links to a Canberra-based concreting company, which police have not publicly named.
Southern Region Enforcement Squad Commander Detective Chief Inspector Joe Thone warned those considering becoming involved in the supply of illicit drugs to reconsider.
"There are a number of ongoing investigations into criminal activity in southern NSW, and we are leaving no stone unturned," Detective Chief Inspector Thone said.
"We will continue to target those engaging in the supply of illicit drugs, and rest assured anyone who engages in these activities will face the full brunt of the law."
A recent report by the Australian Criminal Intelligence Commission found cocaine use skyrocketed in Canberra as lockdown restrictions eased according to waste water analysis.