EXCLUSIVE: Jackie Chan and Sylvester Stallone are teamed to star in Ex-Baghdad, a timely action thriller that Scott Waugh has been set to direct. It is an $80 million budget action film that becomes one of the biggest budget films to come out of China. Chan will serve as a producer through his company SR Media, with Qi Jianhong and Talent International’s Esmond Ren. SR Media and Talent International will also finance the film. Hans Canosa is also producing.

The film is a two-hander that matches up global action stars Chan and Stallone for the first time. When Stallone decided not to continue with The Expendables, this was the film he looked forward to doing instead.

When a China-run oil refinery is attacked in Mosul, Iraq, a Chinese private security contractor (Chan) is called in to extract the oil workers. He learns, however, that the attackers’ real plan is to steal a fortune in oil, and teams up with an American former Marine (Stallone) to stop them. The script is by Arash Amel. CAA reps Chan and Amel, WME Stallone and UTA reps Waugh, who helmed 6 Below, Act Of Valor and Need For Speed.