The movie is being developed by Besson's EuropaCorp and he has hired Danish director Martin Zandvliet to direct the film, reported Variety.
Robert Rodat, screenwriter of "Saving Private Ryan" has written the script based on Robert Moore's book "A Time to Die."
The Kursk sunk during a Russian naval exercise in the Barents Sea after explosions within the submarine.
The Russian government refused help from foreign governments for five days before agreeing to aid from the British and Norwegian governments.
EuropaCorp is also developing Dane DeHaan and Cara Delevingne starrer "Valerian" along with "The Transporter Refueled", Naomi Watts starrer "Shut In" and The Lake", starring Sullivan Stapleton and JK Simmons, which will hit theatres on July 15.
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