The historical project will be directed by famed Chinese director Zhang Yimou, reported theWrap.
The film, set in China, will mark Yimou's English-language debut. The story revolves around an elite force making a last stand for humanity on the world's most iconic structure.
Damon remains in negotiations to star in the Great Wall movie, which is expected to be the largest film ever shot entirely in China.
Production is set to begin in the early next year for a late 2016 release.
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