AP Photo/Luis Martinez

Director James Cameron intends to helm The Dive for 20th Century Fox and Lightstorm Entertainment, and has tapped Battle Angel co-writer Laeta Kalogridis for scripting duty.

According to Variety, the movie will be based on the true, tragic love story of free-divers Francisco "Pipin" Ferraras and his wife Audrey Mestre.

The project will start immediately after Cameron completes his next film, tentatively called Project 880, which is the first feature he'll be directing since 1997's Titanic.