Source: E! Online

Michael Douglas is set to coproduce and star in Racing the Monsoon, a comedy-adventure about a jewel-craving adventurer set in an far-flung locale.

Sounds familiar right? But, contrary to previous reports, this film is not the long-rumored follow-up to "Romancing the Stone" and its 1986 sequel, "Jewel of the Nile," according to E! Online and Douglas' rep Alan Burry.  

Burry says, the new picture will retain the "spirit" of those earlier swashbucklers. That means Douglas will be playing a new character and won't be reunited with old pals Turner or Danny DeVito.

"It's a project we've had in development for some time and it is centered in India," says Burry. "It's an action-romantic adventure kind of thing like Romancing was...in the same genre, but it's just not those characters and that set up continuing."

The script is being penned by Gloria Katz and Willard Huyck, the writers behind "Indiana Jones and the Temple of Doom."

Douglas will co-star along with former Miss World Aishwarya Rai (who you see on your right), one of Bollywood's highest paid stars.

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