The late Ghost actor and Keanu Reeves starred in the original cult film, about a gang of surfers who rob banks.

Swayze was due to reprise his role as group leader Bodhi in a revamp, but the movie was abandoned after the star lost his battle with pancreatic cancer.

Now studio bosses at Alcon Entertainment have started work on the film, which will centre around extreme sports.

A representative tells Daily Variety, ""The new version is set in the world of international extreme sports, and like the original involves an undercover FBI agent infiltrating a criminal ring.""