LONDON

British police are searching for a gang after jewelry believed to be worth £200 million was stolen in a raid on safety deposit boxes in the UK capital.

Police were alerted on Wednesday morning after the gang struck at a safety deposit business at Hatton Garden, using heavy cutting equipment to break into the boxes, police said.

"Approximately 60 to 70 safety deposit boxes were opened during the burglary," a police spokesman said.

British media reported the stolen jewelry was believed to be worth £200 million ($300 million). 

A  police spokesman said:  "Flying Squad officers are keen to speak to anyone who may have any information about the burglary."

 'Painstaking process'

Forensic experts were examining the scene of the crime.

A Metropolitan police spokesman said the investigations were a "slow and painstaking process involving forensic examinations, photographing the scene and recovering exhibits in details in order to preserve the evidence".

Police officers said they estimated the forensic examination would take about two days and said they are "working with Hatton Garden Safety Deposit Ltd to establish the identities of those affected".

Hatton Garden, a street in the district of Holborn in the UK capital, is the center of London's jewelry and diamond trade.