Spanish police have seized 4.1 metric tons (4.5 tons) of cocaine with an estimated street value of (EURO)252 million ($340 million) - the biggest confiscation of the drug arriving to the nation since 2001.

The Civil Guard says in a statement the drugs were at a warehouse in the eastern city of Elche. Three Spaniards running a front company from the location were arrested.

The company imported leather from Colombia, and the statement issued Wednesday said cocaine was in six shipping containers of leather that arrived Feb. 1.

The drugs were destined for distribution in Spain and Europe. Police raided 16 places linked to those arrested, seizing weapons that were not described and six luxury vehicles.