Italian police have confiscated millions of euros worth of drugs hidden amid waste paper in the harbour town of La Spezia, authorities announced on Friday.

Twelve packets of highly refined cocaine were discovered in the container.

The investigators estimated that there were 412 kilogrammes, which would have a street value of about 100 million euros ($114.6 million).

The container was allegedly shipped from the Dominican Republic and was meant to be sent on to Valencia in Spain.

Italian harbours are often the site of major drug finds.

Two years ago, investigators in La Spezia discovered 338 kilogrammes of cocaine that had been sent from Brazil.

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Just a few weeks ago, the Police in the southern Italian city of Gioia Tauro reported a finding of three tonnes of cocaine on New Year’s Eve.

Those were sent from South America and packed in a shipment of bananas.