A serious crash involving multiple trucks and a towed speed boat iso asking long delays on a major Victorian highway.

The crash happened on the Princes Highway in Nar Nar Goon in Gippsland on Friday morning.

The collision is believed to be between two tricks, a white ute and speed boat that was being towed.

The scene is under control and Victoria Police are directing traffic.

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The Princes Highway will re-open when safe to do so.