Apparently, the project had stalled after the budget couldn’t be brought down from $90 million to somewhere around $60-$70 million, but now it seems like they were able to make it happen. Originally, it was going to cost roughly $180 million, which seems right considering the story demands some pretty big special effects.
Here’s hoping that this comes together and they create a faithful adaptation of the original. The former seems likely, the latter does not.