James Franco is set to star in the new Sylvester Stallone action flick Homefront, alongside Brit hard-man actor Jason Statham, the Hollywood Reporter has revealed. Having won critical acclaim for his role as Allen Ginsberg in the 2010 film Howl, Franco will appear in early 2013 in the much anticipated Sam Raimi film Oz: The Great and Powerful.

The gritty movie Homefront couldn't be further from the fantasy of 'Oz' and Franco, will star as crazy meth dealer named Gator Bodine, who plans to tighten his grip on a small American town upon learning that two former DEA agents (Statham and his wife, played by Nina Pryce) have moved into his neck of the woods.

Gary Fleder will take on directing responsibilities, whilst Stallone is producing the film alongside Kevin King Templeton and Rene Besson.

The story itself is based upon on a book from the popular Chuck Logan series that follows former Minnesota police officer Phil Broker (who Statham will portray). Filming is slated to begin in late September around the New Orleans area.

This will be the second time this year that Statham and Stallone will work together, with The Expendables 2 being released this summer. The ensemble action film will see the two reunite with Jet Li, Dolph Lundgren, Chuck Norris, Randy Couture, Terry Crews, Bruce Willis, and Arnold Schwarzenegger. Action movie legend Jean-Claude Van Damme will join in with the action, whilst Hunger Games actor Liam Hemsworth will also be joining the cast.