Chuck Russell spends an ARABIAN NIGHT in 3D?

From ComingSoon.net:

"Chuck Russell [the director of The Mask] is set to direct a 3D reworking of Arabian Nights, reports Variety. He co-wrote the script with Barry P. Ambrose. The action adventure, with an estimated budget of $70 million, will start production in April.

In a new spin on the classic, the story follows a young commander who, after his king is killed in a palace coup, joins forces with Sinbad, Aladdin and his genie to rescue Scheherazade and her kingdom from dark powers.

'Through the use of a new generation of visual technologies, we will be able to quite literally take audiences around the world on a magic carpet ride,' Russell said."