Pedro Almodovar's next to feature Antonio Banderas, Penelope Cruz

Veteran director Pedro Almodovar has announced his next project, starring Antonio Banderas and his frequent collaborator Penelope Cruz.

The 68-year-old director, who is best known for Oscar winning film "All About My Mother", as well as "Women on the Verge of a Nervous Breakdown" and "Volver", will be helming the film "Dolor Y Gloria" ("Pain And Glory").

It will also feature actors Asier Etxeandia and Julieta Serrano.

The project was announced by Spanish director's production house, El Deseo, and the production is expected to start in July this year, according to The Hollywood Reporter.

The film will chronicle a series of reunions, some in the present and others in the past, as a film director ponders his creative decline.

"First loves, second loves, a mother, mortality, actors with whom the director worked, the sixties, the eighties and the present," a film synopsis on the El Deseo site stated.

Unlike Almodovar's earlier films, "Dolor Y Gloria" will feature male protagonists in Banderas and Etxeandia, with Cruz and Serrano in supporting roles.

Cruz and Banderas had also featured in Almodovar's 2013 comedy "I'm so Excited". His last film "Julieta", featured Emma Suarez and Adriana Ugarte as the protagonist of the drama.