'Aquaman' Will Reportedly Have Budget Of $160 Million

08/24/2017 02:45 pm EDT

Warner Bros. first DC Comics films after Justice League will have a budget many filmmakers would drown in.

According to a new report from Redland City, the James Wan-directed Aquaman film will have a budget of $160 million. This confirms a previous report of the film's budget which matched the number after Australia put in a serious bid to see the production head down under, to the same studio where Marvel's Thor: Ragnarok was filmed.

For comparison, Aquaman's predecessor by three titles, Batman v Superman: Dawn of Justice, brought together several DC Comics icons with an estimated budget of $300 million while Wonder Woman focused on one character's journey and used an estimated $149 million to do so.

"While the value of such exposure is as immense, the economic injection of hosting a film shoot involving more than 250 cast and crew is substantial through spending on everything from accommodation to ferry transport," said Redland City mayor Karen Williams. "We have to make sure that the economy on the island transitions to other industries so that Straddie isn't left stranded."

The Aquaman production moved to Straddie's Amity Point to shoot a key location in Arthur Curry's mythology. Williams said more than 250 cast and crew were staying on the North Stradbroke Island this weekend alone, boasting the true scale of the upcoming DC Comics film.

"The film also employed around 25 locals to do everything from provide cultural advice on the site, undertake security, perform lifeguard duties and drive just about every crane and forklift on the island," Williams said. "The production has also been working with the island's traditional custodians, through Quandamooka Yoolooburrabee Aboriginal Corporation, who provided cultural heritage monitoring before and during filming and undertook work at the site to install a temporary track onto the beach so that multi-million dollar filming equipment could be moved into place."

Aquaman, starring Jason Momoa, Amber Heard, Nicole Kidman, and Willem Dafoe, hits theaters on December 18, 2017.

Disclosure: ComicBook is owned by CBS Interactive, a division of Paramount. Sign up for Paramount+ by clicking here.