$188 million of cocaine belonging to suspected rebels sized by Colombia's navy on Tuesday

Colombia's navy on Tuesday seized US$188 million (Ђ155.5 million) worth of cocaine, believed to have belonged to rebels, that was hidden in underground chambers next to a river deep in southwestern jungles.

Navy intelligence learned of the cocaine location after intercepting a radio transmission between alleged members of the Revolutionary Armed Forces of Colombia, or FARC, said Adm. Jairo Pena, commander of Colombia's pacific fleet.

Some 60 navy soldiers took part in the operation, which hauled in about 7.5 metric tons (8.3 tons) of cocaine. No arrests were made.

Colombian authorities have seized nearly 90 tons of cocaine this year. Colombia is the world's biggest producer of the narcotic, the AP reports. A.M.