AceShowbiz -

The fifth installment of the iconic action movie "Rambo" has been rumored to be developed ever since the fourth one, "Rambo", was released in 2008, but now it has been made official. Variety has recently come up with a story that Nu Image/Millennium Films has given thumbs up for "Rambo V: The Savage Hunt".

Providing more details on the report, the publication revealed that Sylvester Stallone will return to the starring and directing duties he did for the fourth film. This time, the 63-year-old action star will be seen manning his John Rambo character as the Vietnam veteran fights his way through human traffickers and drug lords to rescue a young girl abducted near the U.S.-Mexico border.

"Rambo V" will be produced by Avi Lerner, Kevin King Templeton and John Thompson with Danny Dimbort, Trevor Short and Boaz Davidson as executive producers. No word on whether Stallone will also write for the script like what he's done with the fourth installment. Production is planned to start in spring of 2010.

The fourth "Rambo" had been released on January 25, 2008. It followed John Rambo as he retreats to northern Thailand, where he's running a longboat on the Salween River. Since its release, the action movie has pulled in $42.8 million in the U.S. alone and has grossed $113.2 million worldwide.