James Cameron plans to make three sequels to "Avatar," filming again in New Zealand, which was the location for the original 2009 blockbuster.
The director made the announcement Monday in the capital, Wellington, along with producer Jon Landau and Prime Minister John Key, Entertainment Weekly reported.
"It's quite a thrill to be officially saying that we're bringing the 'Avatar' films to New Zealand," Cameron told a press conference. "We had such a wonderful experience here making the first film."
The three new films, which will be made by Lightstorm Entertainment and Twentieth Century Fox, will be in 3-D with some sequences shot at 48 frames per second.
Cameron plans to complete principal shooting for all three movies at the same time, beginning filming in 2015. The first sequel is tentatively slated for a Christmas 2016 release, with the other two films hitting theaters in late 2017 and late 2018, respectively.
Script and design work for the films, which will have sequences shot at 48 frames per second, has already started, Cameron said. While the "Terminator" director declined to detail a budget, he did estimate that the movies together should cost less than $1 billion.
The New Zealand government will pick up a quarter of the bill, agreeing to a 25 percent rebate for the films. As part of the agreement, Lightstorm Entertainment and Twentieth Century Fox will spend at least $413 million in the country on the movies.
The news confirming the three sequels is great news for New Zealand's film industry, which had been facing a dry season as Peter Jackson's "Hobbit" trilogy wraps shooting.
"It's a day of great celebration," Key said. "It's a great Christmas present for those involved in making world class movies."
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