By Tanner Stransky
Updated September 11, 2009 at 09:56 AM EDT

Avatar director James Cameron has signed on to executive produce Sanctum, yet another 3-D flick, this time from Universal and Relativity, according to Variety. Apparently Relativity was the first bidder after a screening of the new 3-D technology that Cameron intends to use in the movie, while other studios also made bids. Sanctum has a budget of about $30 million and will film later this year in Australia.