Andrew Garfield will return to the role of Peter Parker and Marc Webb is set to direct as Columbia Pictures prepares to begin production on the next installment of The Amazing Spider-Man, it was announced today by Doug Belgrad, president of Columbia Pictures, and Hannah Minghella, president of production for the studio. The screenplay is by Alex Kurtzman & Roberto Orci and Jeff Pinkner based on a previous draft by James Vanderbilt. The film will be produced by Avi Arad and Matt Tolmach. The new chapter in the Spider-Man saga is set for release in 3D on May 2, 2014.

Emma Stone is also in talks to return to the blockbuster franchise and is expected to reprise her role as Gwen Stacy.

The new film will begin production in early 2013. Webb, Garfield and Stone previously teamed on this summer's blockbuster The Amazing Spider-Man, which has taken in more than $751 million worldwide.

Commenting on the announcement, Belgrad said, "We could not be more confident in the direction we are taking this new Spider-Man storyline and we are tremendously excited to be ramping up production again with Marc at the helm and Andrew continuing on as Peter Parker. We can’t wait to share what we have in store for Peter and Spider-Man with audiences worldwide."