Neil Gaiman is all set to pen a movie adaptation of the folk tale JOURNEY TO THE WEST for Chinese TV producer Zhang Jizhong. The movie is reportedly set to be a $300 million production of three movies, costing $100 million a piece.

Variety says that the 500-year-old story is by Wu Cheng’en, detailing the events that befall the Monkey King, armed with a magic staff, as he journeys with a monk, a pig spirit and a fish spirit to India to retrieve Buddha’s scrolls in an effort to find enlightenment.

James Cameron is said to be consulting on the screenplay, with Guillermo del Toro being courted to direct the first movie (at least). They may have to wait as the director has PACIFIC RIM to deal with first.

“He has shown a lot of interest but he wants to see the treatment first. Obviously the more celebrated the director, the busier they are.”  Jizhong said.

So, expect the movie to be 3D (if Cameron has any involvement), it wo be in Englih and to feature both Western and Eastern actors.

More at the end of the link above.