SYDNEY, Sept. 29 (Xinhua) -- Two men from Australia's New South Wales state capital Sydney have been arrested in a record drug bust that involved about 500 kg of cocaine, authorities said on Saturday.

The suspects were allegedly involved in an elaborate plan to smuggle the drugs into the country before the stash was seized on a Belgian-registered boat off Solomon Islands capital Honiara in an international, multi-agency operation on Thursday, the Australian federal police said.

"This is an unprecedented operation between Australian and Solomon Islands authorities, illustrating what can be achieved when our partners collaborate to stop large-scale drug importations before they have a chance to reach Australian communities," said Detective Superintendent Ben McQuillan from the federal police.

The two men, aged 41 and 39, have been charged with drug and other related offenses that carry a maximum penalty of life imprisonment. Investigations are ongoing, said police.