News reported that the raid came following a long standing investigation between Spain and Portugal.
Through August previous year, Sri Lankan customs seized six shipments of high-quality South American cocaine in 14 months, including Asia's largest-ever haul of the drug in December 2016, at its main port. Police finding these illegal fruits in shipping containers is the conclusion of an ongoing investigation by Spain and Portugal that began back in April 2017.
The operation was led by two Colombian brothers who had laboratories located near the Spanish capital of Madrid. Also seized was €400,000 (A$612,680) in cash. The cocaine was being transported from storage facilities in Barcelona to these labs every 15-20 days. The cocaine would then be shipped from Panama to Lisbon before ending up in laboratories near Madrid.
A clandestine laboratory where cocaine was adulterated and "cut" was also dismantled, police said.
The Iberian Peninsula is a major point of entry for cocaine and other drugs to Europe, either directly from Latin America or via North and West Africa.
Portuguese investigators told Global News in a statement that "this organised worldwide group had repeatedly brought large quantities of cocaine to the European continent".